Tupperware Fourth Quarter Continuing Sales Fall 12 Percent to 394.9 Million
Tupperware Brands said fourth-quarter 2021 net sales were 394.9 million dollars, down 12 percent, or 10 percent in constant currency. Income from continuing operations was 19.4 million dollars, or 37 cents per diluted share, with adjusted diluted earnings of 38 cents. Adjusted EBITDA from continuing operations was 46.5 million dollars. Full-year net sales were 1.602 billion dollars, up 3 percent, with income from continuing operations of 155.6 million dollars, or 2.93 dollars per diluted share.
Chief executive Miguel Fernandez said the company was building the foundation for its turnaround plan and navigating COVID-related disruptions, especially in Asia Pacific and Europe. The company said it made progress clearing shipment backlog of more than 25 million dollars in the quarter.
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