Having a Tupperware (TUP) party may be cool once again. That is one of the key takeaways from perusing the company’s third quarter results, which suggest more women around the globe are throwing parties to hawk the latest in Tupperware kitchen gear. Tupperware’s local currency sales, which strip out the influence of the strong U.S. dollar, rose 7% in the third quarter from the prior year. Reported sales, which include the effects of the resilient U.S. dollar, fell 11% in the quarter. On a local currency basis, sales in emerging markets, where Tupperware derives about 70% of its sales, rose 11% owing to strength in Brazil, China and Indonesia. In particular, sales in China and Indonesia rose 18% and 12%, respectively. Sales in North America increased 14% as the number of active sellers improved by 20%. Excluding one-time items, earnings came in at 79 cents a share, beating Wall Street’s forecasts by 8 cents. Points out Tupperware chairman and CEO Rick Goings in an interview with TheStreet on the cultural trends driving the company’s business abroad in the face of slowing emerging markets, ‘in general, you only have 30% of the women working outside the home, so they are looking for an opportunity.’ TheStreet’s Brian Sozzi reports from New York City.
More from Emerging Markets
Shares of Cresud have been hammered by a big political shift in Argentina, which makes the farming name a value play not for the faint of heart.
Markets got hit hard in May when trade talks broke down and the president instituted new tariffs, but things are different now.
There's a lot going on right now and the markets (and media) have difficulty latching on to more than three or four stories at a time.
This may be a case where the short-term damage to markets may be for the best in the longer run.