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AP National Business

Tupperware struggles in Q1, withdraws guidance, taps new CFO

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Published 11:35 AM

By MICHELLE CHAPMAN
AP Business Writer

Tupperware’s turnaround isn’t exactly going as planned, with inflation, COVID-19 and Russia’s invasion of Ukraine all weighing on the consumer products company. Sales dropped 16% in the first quarter, with Miguel Fernandez, President and CEO of Tupperware Brands, acknowledging that the company’s turnaround still needs a lot more work. The company withdrew its financial projections for the rest of the year and named a new chief financial officer. The company’s stock shed a third of its value. 

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