Tupperware Brands Corporation announced fourth quarter 2016 operating results.
Fourth quarter 2016 net sales were $600.9 million, up 1% in dollars and 3% in local currency, which included a 4-point benefit from a 14th week in 2016’s fiscal calendar. Emerging markets**, accounting for 65% of sales, were up 5% in dollars and 8% in local currency.
Rick Goings, Chairman and CEO, commented,
“We experienced a challenging fourth quarter to cap off an already tough 2016. Local currency sales grew 3% in the quarter, which was 1 point under the October guidance range.
Despite the impact of further economic and political instabilities, our businesses in emerging markets continued on a growth trajectory in the fourth quarter with outstanding results in Argentina, Brazil, China and Tupperware South Africa.”
Goings continued, “Adjusted earnings per share was 3 cents