Tupperware Expects Sales at High End of Guidance
September 02 2015 - 10:10AM
Dow Jones News
Tupperware Brands Corp. said Wednesday that it expects to come
in at the high end of its sales guidance for the current quarter
amid improvement in Indonesia, France and Italy, though the company
forecast a higher hit from currency fluctuations.
Shares, down 22% this year, added 2.3% to $50.20 in premarket
trading.
Orlando, Fla.-based Tupperware has been hurt recently by the
strength of the U.S. dollar. In July, the company said it expected
currency fluctuations to dent its earnings for its third quarter by
22 cents a share. It is now expecting a 26 cent per-share
impact.
But backing out currency fluctuations, Tupperware expects to
come in at the top end of its forecast for 4% to 6% sales
growth.
Tupperware said it is also seeing strong growth in Argentina,
Brazil, China and Mexico despite macroeconomic challenges.
The container maker has leaned heavily on emerging markets for
growth recently, which made up 67% of sales in the quarter ended in
June.
Tupperware expects to release its results for the quarter,
ending in late September, on Oct. 20.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 02, 2015 09:55 ET (13:55 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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