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.
