Tupperware Expects Sales at High End of Guidance

Tupperware Brands Corp. said Wednesday that it expects to come in at the high end of its sales guidance for the current quarter amid improvement in Indonesia, France and Italy, though the company forecast a higher hit from currency fluctuations.

Shares, down 22% this year, added 2.3% to $50.20 in premarket trading.

Orlando, Fla.-based Tupperware has been hurt recently by the strength of the U.S. dollar. In July, the company said it expected currency fluctuations to dent its earnings for its third quarter by 22 cents a share. It is now expecting a 26 cent per-share impact.

But backing out currency fluctuations, Tupperware expects to come in at the top end of its forecast for 4% to 6% sales growth.

Tupperware said it is also seeing strong growth in Argentina, Brazil, China and Mexico despite macroeconomic challenges.

The container maker has leaned heavily on emerging markets for growth recently, which made up 67% of sales in the quarter ended in June.

Tupperware expects to release its results for the quarter, ending in late September, on Oct. 20.

Write to Chelsey Dulaney at [e-mail]

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(END) Dow Jones Newswires

September 02, 2015 09:55 ET (13:55 GMT)

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