Orlando, Fla.-based Tupperware Brands today reported its financial result for the second quarter of 2018. Net sales were $535.4 million, down 7 percent (4% local currency), including a 2-point impact from the 2017 closure of Beauticontrol and the combination of the NaturCare and Tupperware businesses in Japan.
Emerging markets, accounting for 71 percent of sales, were down 5 percent (even in local currency).
The operating units with the most significant local currency sales growth in the second quarter were China, Fuller Mexico, Tupperware Mexico and Tupperware South Africa. The significant decreases were in Brazil, India and Indonesia. Established market sales decreased 10 percent (13% local currency), including a 6-point negative impact from the Beauticontrol closure and combination of units in Japan. The local currency sales decreases were most significant in France and Tupperware Australia and New Zealand.
The company reported segment sales as follows:
- Europe: sales were down 2 percent (4% local currency)
- Asia Pacific: sales were down 2 percent (4% local currency)
- North America: sales were down 4 percent (1% local currency), including a negative 7-point local currency impact from Beauticontrol wind-down
- South America: sales were down 23 percent (7% local currency)
For the full year, sales are expected to be down about 4 percent in dollars in Europe; down 4 to 5 percent in Asia Pacific; down 2 to 3 percent in dollars in North America; and down by a mid-teen percentage in dollars in South America.
To view the full Tupperware Q2 2018 report, click here.