For Tupperware Brands Corporation, 2014 has almost been the inverse of 2013.
The stock started 2013 near $62 levels and continued to move higher to end the year at over $90, whereas in 2014 the stock started to decline from the $90 plus levels and currently trades near $64 levels. With 90 percent of its revenues coming from overseas and dollar riding high vs. other currencies, the future also doesn’t seem pleasant for the company.
Tupperware Chairman and CEO, Rick Goings, was on CNBC to discuss how strong dollar is impacting the company and the measures taken by the company to limit its impact.
Its peaks and valleys with regard to it. We have done regression analysis, we have had a market basket of about 45 countries and when you put it all together, yep, this year, it’s a headache, but sometimes you're a windshield and sometimes you're the bug and over a decade it's been pretty neutral, Goings said.
Emerging markets that Tupperware is focusing on are showing signs of weakness. When Goings was asked the outlook for his company keeping this in perspective, he replied, Well, I think we've got enough currents that are the wind at our back in these emerging markets. The big populations there, limited earning opportunities for women and in the emerging middle class, I think that it helps you overcome what’s happen with currency or any decline in spending in those kinds of markets.
Shares of Tupperware closed Monday at $63.78, down 1.91 percent.
Originally reported by: Benzinga
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