Tupperware Stock Tumbles Over 35% As Turnaround Plan Stalls

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Tupperware Stock Tumbles Over 35% As Turnaround Plan Stalls

seekingalpha2022-11-02

Tupperware Brands Corporation stock crashed 35.19% in premarket trading on Wednesday after posting wide misses on Q3 earnings estimates.For the reported quarter, the Florida-based company notched $...

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JC1211
·2022-11-02
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Losses from continuing operations accelerated to $3.8M in the quarter, as compared to $60.4M in net income in the prior year period and $4.5M in the second quarter.“We experienced decelerating top line trends in Asia Pacific and North America, and continuing declines in Europe given ongoing geopolitical tensions and the difficult macroeconomic environment there,” CEO Miguel Fernandez said. “These trends were partially offset by continued positive sales growth in South America, where pricing actions have more than offset a modest decrease in sales force activity. 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