Glenn:
According to management, the number of units sold fell a whopping 13% year-over-year, led largely by declines in South America, Beauty North America, and Europe.
Jetta:
While the number of its active sales force managed to inch up for the quarter (compared to last year's second quarter), the big issue is that customers aren't willing to buy Tupperware's products anymore.
Twyla:
Of course, some investors may say that this is a temporary downturn (and it may be) but I have a hard time believing this to be the case right now.
Zenaida:
Net income fared even worse, dropping a whopping 21.8% from $214.4 million to $274.2 million as falling sales and rising costs negatively affected profits.
Katrina:
After accounting for these and applying the appropriate tax rates, Tupperware's net income for the quarter would have been $53.5 million, 9% lower than the $58.82 million it would have been last year.
Carmelita:
For the quarter, the company saw its net income soar by 30.3% from $47.6 million to $62 million.
Aide:
On the bottom line, things look much better but investors need to account for one-time items to get the full picture.
Ann:
According to the company, this drop in sales came from every region (except for TW North America, which saw a modest improvement), especially Europe, which reported a $30.2 million decline in sales.
Joleen:
For the quarter, Tupperware's revenue came in at $588.9 million, roughly 12.7% below the $674.3 million management reported the same quarter last year.
Trudie:
Based on the data reported by Tupperware recently, it's very possible that the second scenario is accurate.
Tupperware Corp. (NYSE:TUP)
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