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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 (TUP) has partnered with the National Park Foundation to contribute nearly $1 million to support the National Park Service in diverting almost 10 million single-use plastic bottles from landfills. This initiative includes installing over 65 water refill stations across several national parks, enhancing recycling infrastructure, and improving composting efforts at key sites like the Grand Canyon. CEO Miguel Fernandez emphasized the partnership’s focus on waste reduction and environmental stewardship, aiming to implement sustainable practices that benefit both the parks and their visitors.
Tupperware Brands Corporation (NYSE: TUP) has appointed three new members to its Board of Directors: Deborah Ellinger, James Fordyce, and Timothy Minges. These leaders bring extensive experience in consumer products, direct selling, and technology, supporting Tupperware's ongoing Turnaround Plan aimed at restoring growth. The Board now consists of 13 members, with 45% of independent directors being female. Chairman Susan M. Cameron emphasized their strategic role in guiding the company's future and creating value for stakeholders.
Tupperware Brands Corporation (TUP) reported a 17% increase in fourth-quarter sales, totaling $489.6 million, with local currency sales up 20%. GAAP diluted EPS rose to $0.41 from a loss of $1.47 in the prior year. The company achieved $72 million in gross cost savings, totaling $192 million for 2020. Full-year sales were down 3% to $1,740.1 million, but local currency sales grew by 3%. Net income improved to $112.2 million from $12.4 million, with a diluted EPS of $2.14. Free cash flow reached $197.6 million, an improvement of $137.2 million compared to 2019.
Tupperware Brands Corporation (NYSE: TUP) is set to release its fourth quarter 2020 results on March 10, 2021, before the market opens. Following this, a conference call will occur at 8:30 a.m. ET. The call will be accessible via webcast on the company’s official website. Tupperware, a renowned global consumer products firm, is known for its innovative kitchen and home solutions, boasting over 8,500 patents. The company operates in nearly 80 countries, primarily through independent representatives.
Tupperware Brands Corporation (NYSE: TUP) will participate in the D.A. Davidson 4th Annual Consumer Growth Conference on March 11, 2021, at 11:00 a.m. ET. The event will feature a fireside chat with President and CEO Miguel Fernandez and CFO Sandra Harris, which will be webcast and available on their official website. As a leading global consumer products company, Tupperware designs innovative products for food storage and preparation, promoting environmental sustainability through alternatives to single-use items.
Tupperware Brands Corporation (NYSE: TUP) announced the successful refinancing of its Senior Notes due in June 2021. The company raised $275 million through new term loan facilities to redeem all outstanding Senior Notes totaling $380.2 million. With this refinancing completed, Tupperware has eliminated any debt maturities until the fourth quarter of 2023. CFO Sandra Harris expressed that this improvement in cash flow supports their growth initiatives within their Turnaround Plan, focusing on new products and digital tools.
Tupperware Brands is launching a #GivingTuesday campaign on December 1, pledging to donate 50% of retail sales from Eco Water Bottles sold in the US and Canada, up to $30,000, to the National Park Foundation. This initiative is part of Tupperware's commitment to sustainability and environmental stewardship, reflecting its goal of reducing waste and promoting reusable products. The Eco Water Bottles are a popular item with a focus on eco-friendliness. Tupperware aims to foster awareness and education around waste management and recycling.
Tupperware Brands (NYSE:TUP) announced a partnership with TerraCycle's Loop to enhance sustainability by eliminating waste. Starting in 2021, U.S. consumers will be able to buy products packaged in reusable Tupperware containers. This initiative aligns with Tupperware's 'No Time to Waste' program, aiming to minimize single-use plastics and food waste by 2025. Tupperware becomes Loop's first reusable plastic container brand partner, leveraging its expertise in sustainable plastics. This collaboration reflects Tupperware's commitment to advancing the circular economy and promoting environmental responsibility.
Tupperware Brands Corporation (NYSE: TUP) CFO and COO, Sandra Harris, will present at the Sidoti Virtual Microcap Conference 2020 on November 19, 2020, at 3:15 p.m. ET. This presentation will be available via webcast on the company's official website. Established in 1946, Tupperware is renowned for its innovative food storage solutions and holds over 8,500 patents. The company distributes its products in nearly 80 countries through independent representatives, focusing on environmentally responsible solutions to reduce single-use items.
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