Tupperware Brands (NYSE: TUP)announced second quarter results and for the fifth straight year, has seen double digit sales growth.
Second quarter sales in 2008 grew 18% to $584 million. Tupperware Beauty Segments sales grew 17%. The company, which has five diverse sales segments saw increase in sales in all five segments.
Tupperware was also thrilled that the number of active representatives grew 10% percent this quarter, probably due to the faltering economy, and the need for second jobs and supplemental income.
Rick Goings, CEO and Chairman of Tupperware was very happy with the second quarter results,”We are pleased to report another quarter of double-digit sales growth with contributions from all
segments. Even with a back drop of spotty economic conditions in some of our markets, we are optimistic entering the third quarter with a double-digit sales force size advantage. Our geographic and product diversity coupled with our emerging market presence continues to act as a natural hedge to help mitigate challenges we see in isolated markets.”
Tupperware has had higher than normal manufacturing costs this year, as natural oil and gas prices went up, so did resin prices. Tupperware uses resin in the making of many of their plastics.
A full report on the second quarter sales and earnings are available on the Tupperware website. For those of you who read this in time, Tupperware will hold a call at 10 AM eastern Thursday the 24th, but for those who cant make it, the call will be archived and available online as well.
Popularity: 4% [?]
