Tupperware Brands Reports Record Second Quarter 2013 Sales and Income of over $688 million

Thursday, 25 July, 2013
Tupperware Brands Corporation today announced second quarter 2013 operating results with net sales of about $688 million. Emerging markets, accounting for 65% of sales, achieved a 14% increase in local currency, driven by large populations, penetration of un-served and underserved consumers and emerging middle classes. Established markets were down 1%, a sequential improvement versus the first quarter.
Mr. Rick Goings, Chairman and CEO, commented, “Our second quarter results reinforce the importance of operating Tupperware Brands as a truly global business with a strong footprint across both established and emerging market economies. This provides us with a well-balanced source of earnings, reducing our reliance on any one market, while allowing us the opportunity to successfully cross pollinate ideas, products and practices around the world as we grow. But once more, the emerging markets have been the key driver of sales and profitability this quarter with particularly strong growth across both South America and Asia (…).” 
Mr. Goings added, “Our business model formula enables us to continue to grow in markets around the world, even in challenging economic environments. There are four pillars to our formula: continued product innovation, an informative and entertaining selling situation, a compelling opportunity/structure for our independent sales forces and solid direct selling fundamentals. These pillars will continue to be the key drivers of our future growth and success.”
Established market sales were even with prior year in local currency. France performed well, and was up 10% in the quarter after having been down in the prior year, as a result of decreased consumer spending around national elections. Three point sequential improvement in Germany, although down 7% including an impact from extreme weather conditions. Italy is seeing strong recruiting as well as double-digit increases with the size of our sales force and much, much better profitability.
For the full year, sales in local currency are expected to be up by a low single digit percentage in the Europe and Tupperware North America segments, up by a mid-teen percentage in Asia Pacific, down by a mid to high single digit in Beauty North America and to be up by about 20% in the South America segment.
Pre-tax return on sales for the full year, versus 2012, is expected to increase slightly in Europe, to increase by about 1 percentage point in Asia Pacific, to be down approaching 1 point in Tupperware North America, to be down about 2 ½ points in Beauty North America and to be up about ½ point in South America.
For full details please read the full press release.
Tupperware Brands Corporation is a portfolio of global direct selling companies, selling innovative, premium products across multiple brands and categories through an independent sales force of 2.8 million. Product brands and categories include design-centric preparation, storage and serving solutions for the kitchen and home through the Tupperware brand and beauty and personal care products for consumers through the Armand Dupree, Avroy Shlain, BeautiControl, Fuller Cosmetics, NaturCare, Nutrimetics, and Nuvo brands.

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