Tupperware Shares Plunge, Wiping Half Of Its Value, As Challenges Mount

Share to twitterTupperware stock lost half of its value on Tuesday after disappointing sales and profit forecast andLightRocket via Getty Images

It forecast sales excluding currency impact this year to decline as much as 11%, thanks to “the difficult consumer trends in key markets and a lower average active sales force,” extending a streak of sales declines in recent years. Tupperware shares dropped 46% to $3.11 on Tuesday. At its peak just over six years ago, its stock was trading at more than $90 a share.

Tupperware has named its independent director and CPG industry veteran Christopher O'Leary as interim chief as it seeks a permanent CEO. The company said in October it hired a firm that “has a strong record of revitalizing iconic American brands that have experienced similar challenges to those facing Tupperware.”

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