Why Tupperware Brands Stock Jumped 30% on Wednesday
Shares of Tupperware Brands (NYSE: TUP) were up 30% as of 12:30 p.m. ET on Wednesday after the company reported better-than-expected earnings results for the second quarter.
Sales were still down 14% on a constant currency basis, but the market was pleased with the sequential increase in profit versus the last quarter. Tupperware reported adjusted earnings per share from continuing operations of $0.41, which was down from $0.90 in the year-ago period, but an improvement versus the $0.12 reported in Q1.
Tupperware is dealing with major challenges in the near term, so it's not out of the woods yet. Management blamed pandemic restrictions in China and shifts in consumer behavior in Europe for lower sales in the quarter.
Source Fool.com
