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Tupperware Brands Corporation (NYSE: TUP) is a globally recognized consumer products company that specializes in designing, manufacturing, and distributing innovative, functional, and environmentally responsible kitchen and home products. Founded in 1946, Tupperware revolutionized food storage with its signature container that has become a household staple. With a strong commitment to sustainability, Tupperware offers alternatives to single-use items, promoting environmentally friendly lifestyles.
The company's product lineup includes over 8,500 functional design and utility patents, demonstrating its dedication to innovation and quality. Tupperware operates in nearly 70 countries and utilizes a direct selling business model through independent representatives, while also expanding into digital platforms and business-to-business distribution channels.
Tupperware manages its operations across four reportable segments: the Asia Pacific, Europe (including Africa and the Middle East), North America, and South America. This wide reach allows the company to cater to diverse markets and maintain a robust international presence.
Recent achievements include the restructuring of existing debt obligations to improve financial stability and support turnaround efforts. This was complemented by the appointment of Laurie Ann Goldman as President and CEO, bringing extensive experience in leadership and brand building from her previous roles at Spanx and Avon North America.
Tupperware has also been recognized as one of the 2024 Most Trustworthy Companies in America by Newsweek, ranking 13th in the consumer goods category. This accolade highlights the company's commitment to trustworthiness through product innovation, sustainability, and strong leadership.
The company's recent product launch, the Tupperware® WowPop microwave popcorn maker, exemplifies its continuous innovation, offering a convenient and space-saving solution for gourmet popcorn making.
Tupperware is actively working to complete the preparation and filing of its 2023 financial statements, following the engagement of its new auditor, KPMG LLP. Despite receiving a non-compliance notice from the NYSE regarding timely financial filings, the company is diligently working to regain compliance and maintain its stock listing.
Overall, Tupperware Brands Corporation remains a significant player in the consumer goods industry, known for its innovative products, global reach, and steadfast commitment to sustainability and quality.
Tupperware Brands Corporation (NYSE: TUP) reported third quarter 2021 results, revealing net sales of $376.9 million, down 11% year-over-year, with notable declines across Asia Pacific, Europe, and North America due to pandemic effects. Gross profit margin decreased to 65.8% from 68.7%. Despite challenges, net income rose to $60.4 million, with diluted EPS at $1.14. The company is restructuring by divesting non-core beauty businesses and executed a $25 million share repurchase. Compliance with financial covenants remains, as debt to EBITDA improved to 2.28.
Tupperware partnered with TerraCycle's Loop to create reusable packaging for Tim Hortons as part of a pilot program in Burlington, Ontario. This initiative aims to reduce waste by utilizing Tupperware's expertise in sustainable materials. The reusable containers will be available at select Tim Hortons locations. Tupperware aims to expand this initiative further and enhance its sustainability efforts through the No Time to Waste program, contributing to reducing single-use plastics and food waste. The program is a significant step in Tupperware's commitment to environmentally responsible practices.
Tupperware Brands Corporation (NYSE: TUP) has appointed Pamela Jones Harbour to its Board of Directors, effective immediately. Ms. Harbour, a former Federal Trade Commission Commissioner, brings extensive experience in competition law, consumer protection, and data security. Her accolades include the 2019 Spirit of Excellence Award from the American Bar Association. This strategic addition aims to enhance Tupperware's leadership as it seeks to expand its global market presence and better protect its salesforce and consumers. With this election, the board now comprises 11 members.
Tupperware Brands has been recognized in Fast Company's inaugural "Brands That Matter" list, which highlights brands making cultural impacts and engaging socially. The company emphasizes its commitment to sustainability, having doubled efforts in reducing food and plastic waste. Tupperware also aided healthcare workers during the pandemic, provided digital tools for its sales force, and secured a patent for a space-compatible nutrient delivery system. This recognition reflects Tupperware's values of innovation and social responsibility, aligning with consumer expectations.
Tupperware Brands Corporation (NYSE: TUP) announced the definitive agreement to sell its House of Fuller beauty business in Mexico as part of its strategy to divest non-core assets. This follows the sale of its Avroy Shlain beauty business in South Africa earlier in 2021. The company aims to focus resources on its core Tupperware brands to restore growth and deliver value to stakeholders. The terms of the transaction, including the expected closing date, remain undisclosed.
Tupperware Brands Corporation (NYSE: TUP) will announce its third quarter 2021 results on November 3, 2021, prior to market opening. This will be followed by a conference call at 8:30 a.m. Eastern Time.
The event will be webcasted by Intrado Digital Media and accessible via the company's website. Tupperware, known for its innovative and eco-friendly products, operates in nearly 70 countries through independent representatives and holds over 8,500 patents for its product designs.
Tupperware Brands announced that its ECO+ Coffee To-Go Cup has been recognized in Fast Company's 2021 Innovation by Design Awards in the Materials category. This award acknowledges Tupperware's commitment to sustainability through the use of ECO+ materials, which are made from circular and renewable polymers aimed at reducing single-use plastic waste. The recognition highlights Tupperware's innovative design initiatives and aligns with their sustainability goals.
Tupperware Brands Corporation (NYSE: TUP) will have its CFO and COO, Sandra Harris, presenting at the Sidoti Fall 2021 Virtual Small Cap Conference on September 23, 2021, at 8:30 a.m. ET. The presentation will be available via webcast on Tupperware's official website. Founded in 1946, Tupperware is known for its innovative consumer products, holding over 8,500 patents worldwide, and distributing products through independent representatives in nearly 80 countries. Tupperware aims to provide environmentally responsible alternatives to single-use items.
Tupperware® has expanded its partnership with the National Park Foundation to launch a limited-edition product line designed to promote waste-free adventures. This initiative responds to a recent survey showing that 84% of Americans believe reducing waste is crucial for national park preservation. The new products, made from Tupperware's ECO+ sustainable material, include a To-Go Cup, Sandwich Keeper, Snack Keeper, and reusable water bottle. The company has also pledged $1 million to support the Foundation's sustainability programs, enhancing Tupperware's commitment to environmental stewardship.
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