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Tupperware struggles in Q1, withdraws guidance, taps new CFO

Tupperware-Results
Posted at 12:58 PM, May 04, 2022
and last updated 2022-05-04 12:58:12-04

Tupperware’s turnaround isn’t exactly going as planned, with inflation, COVID-19 and Russia’s invasion of Ukraine all weighing on the consumer products company.

Sales dropped 16% in the first quarter, with Miguel Fernandez, President and CEO of Tupperware Brands, acknowledging that the company’s turnaround still needs a lot more work.

The company withdrew its financial projections for the rest of the year and named a new chief financial officer.

The company's stock shed a third of its value.