Orlando, Fla.-based Tupperware Brands recently 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.
Tupperware Brands Corporation, through an independent sales force of 3.1 million, is the leading global marketer of innovative, premium products across multiple brands utilizing social selling.
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 through the Avroy Shlain, Fuller Cosmetics, NaturCare, Nutrimetics and Nuvo brands.
Get more information, facts and figures about Tupperware, click here for the Tupperware overview.