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Tupperware Brands Corporation (TUP) delivers innovative kitchen and home solutions through its iconic direct-selling model and modern retail partnerships. This page provides investors and stakeholders with centralized access to official company announcements and market-moving developments.
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Content spans press releases, regulatory disclosures, and partnership announcements, providing comprehensive insight into TUP's market position. Bookmark this page for efficient tracking of material events affecting the company's trajectory in the consumer goods sector.
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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