Is the party over for Tupperware? The longstanding household name is facing serious financial turmoil.
that net sales were down 18% for the full year in 2022, while net sales for the fourth quarter of 2022 alone were down an even higher 20%. Now, Tupperware says that it may not have sufficient cash for the near future due to increased borrowing costs and the"volatility" in its earnings.
Securities and Exchange Commission. While Tupperware said that it plans to file the form within the next 30 days, it noted that"Tupperware shares plummeted 50% on Monday in the wake of the gloomy warning about the company's future,If Tupperware does end up going out of business, it would mark the end of a brand that has been around for nearly 80 years.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tupperware Could Disappear for Good—Iconic Company Says It Can't Stay AfloatTupperware says it could disappear for good amid financial woes. Here's why the iconic company says it can't stay afloat.
Read more »
Food storage brand Tupperware warns it could go out of businessCreated in the 1940s by American entrepreneur Earl Tupper, the Orlando-based company enjoyed a short-lived resurgence in popularity during the pandemic.
Read more »
Breakingviews - Tupperware Brands boxes itself into a cornerTupperware Brands’ options are looking less airtight. The U.S.-based maker of reusable plastic containers, which chemist Earl Tupper founded in 1946 after taking inspiration from the design of paint can lids, cited “substantial doubt” on Friday about its ability to continue as a going concern, sending its share plummeting 48% on Monday. As with other direct selling companies, it casts doubt over its business model, as well as how speedily it can remake itself as consumer habits shift.
Read more »
Tupperware stock plunges after warning it could go out of businessThe container maker said there’s “substantial doubt about the company’s ability to continue as a going concern.”
Read more »
Tupperware warns company could go out of businessThe company says it is looking for financing because it doesn’t have enough cash to fund its operations.
Read more »
Tupperware warns it may go out of businessTupperware is warning it may go out of business, just three years after the retro brand enjoyed a surprise surge from legions of pandemic shut-ins trying their hand at cooking.
Read more »