Tupperware Brands Reports Fourth Quarter 2012 Results -- Declares and Raises Dividend 72% and Announces Increased Share

 Tupperware Brands Reports Fourth Quarter 2012 Results -- Declares and Raises
   Dividend 72% and Announces Increased Share Repurchase Authorization and
                               Leverage Target

-- Fourth Quarter Sales up 6% in local currency+ versus last year; including
negative impact from exchange rates, sales up 5% in dollars.

-- Fourth Quarter GAAP diluted E.P.S. $1.34. Excluding certain items impacting
comparability*, diluted E.P.S. $1.71, up 16% in local currency.

-- Fourth Quarter 2012 share repurchases of $100 million / 1.57 million
shares.

-- Board of Directors declares 62 cent quarterly dividend, up 72% from 36
cents.

-- Dividend payout ratio and leverage targets raised; share repurchase
authorization increased $800 million to $2.0 billion.

PR Newswire

ORLANDO, Fla., Jan. 29, 2013

ORLANDO, Fla., Jan. 29, 2013 /PRNewswire/ --(NYSE: TUP) Tupperware Brands
Corporation today reported fourth quarter 2012 sales and profit, with sales up
5% in dollars and up 6% in local currency^+.

GAAP net income for the quarter was $74.5 million, or $1.34 per diluted share,
compared with 2011 fourth quarter GAAP net income and diluted EPS of $86.9
million and $1.50 per share, respectively. Adjusted diluted earnings per
share of $1.71 in the quarter was 21 cents, or 14%, better than 2011 in U.S.
dollars, including a negative foreign currency impact of 3 cents. Excluding
the impact of foreign exchange on the comparison, adjusted diluted earnings
per share was up 24 cents, or 16%.

For the year ended December 29, 2012, the Company reported sales of $2.6
billion, in line with 2011 in dollars and up 5% in local currency. The
comparison with 2011 included an estimated 1 percentage point negative impact
from the Company's fiscal year having 52 weeks in 2012 versus 53 weeks in
2011. For the year, the Company's GAAP net income of $193.0 million decreased
12%, and diluted earnings per share of $3.42, was down 4% versus prior year.
Excluding certain adjustment items, diluted earnings per share of $4.99
improved 12% in dollars compared with 2011, and excluding an unfavorable 36
cent impact on the comparison from foreign exchange rates, improved 22%.

The Company repurchased in the open market 1.57 million shares for $100
million in the fourth quarter of 2012. Since 2007, the Company has
repurchased 15.5 million shares for $828 million. The Company's open market
repurchase authorization was increased today from $1.2 billion to $2.0
billion, and extended two years until February 1, 2017. The Company expects
to repurchase $100 million worth of shares in the first quarter of 2013 and
has included $400 million of repurchases in its full year 2013 outlook.

Rick Goings, Chairman and CEO, commented, "I am pleased with our fourth
quarter results. When we look across our markets, we see a balanced
portfolio. We have a significant presence in both emerging and established
markets, and we're not reliant on one part of the world or one market to
perform in order to deliver positive top and bottom line results. Our
emerging markets, which comprised 60% of our sales, continued to perform well
with 11% growth in local currency in the quarter. Our established markets
were even with last year in local currency and improved sequentially in the
third and fourth quarters of the year. In our current global portfolio, the
advantages of many outweigh the issues of a few. Our formula, having new and
innovative product at the right price points, a selling system that is
compatible with the market, a dynamic career opportunity and the use of solid
direct selling fundamentals is the key to our continued growth and success.
This, combined with our 2.8 million sales force, will enable us to achieve our
long and short term growth goals. Because of our confidence in future results
and the desire to return value to shareholders in a meaningful way, our Board
has raised our dividend 72%, increased our targeted payout and leverage
ratios, and significantly increased our share repurchase authorization."

2013 Updated Guidance (Unaudited)

Based on current business trends and foreign currency rates, the Company's
first quarter and 2013 full year guidance is provided below.

Company Level

           13 Weeks Ending        13 Weeks     52 Weeks Ending     52 Weeks
           March 30, 2013         Ended        Dec28, 2013        Ended
           Low        High        March        Low      High       Dec29,
                                  31, 2012                         2012
USD Sales
Growth vs  2        % 4        %  0      % (a) 5      % 7       %  0        % (a)
Prior Year
                                               
GAAP EPS    $1.04      $1.09       $1.02                  $5.62       $3.42
                                               $5.47
GAAP
Pre-Tax    11.4     % 11.8     %  12.1   %     13.9   % 14.0    %  10.6     %
ROS
Local
Currency^+
Sales      5        % 7        %  3      % (a) 5      % 7       %  5        % (a)
Growth vs
Prior Year
EPS
Excluding   $1.09      $1.14       $1.03        $5.62     $5.77       $4.99
Items*
Pre-Tax
ROS        12.0     % 12.3     %  12.2   %     14.3   % 14.4    %  14.2     %
Excluding
Items
FX Impact
on EPS      ($0.02)    ($0.02)                  $0.05     $0.05
Comparison

      The impact of the additional week in 2011 affected this comparison by
(a) negative 5-6% and 1% for the first quarter and full year 2012,
      respectively.

Full year 2013 net interest expense is expected to increase over 2012 by $7 to
$8 million, due to higher borrowings and interest rates in conjunction with
reaching the Company's new leverage target.

Segment Level

For the full year, sales in local currency are expected to be up low single
digit in the Europe and Tupperware North America segments, up low double digit
in Asia Pacific, about even with 2012 in the Beauty North America segment and
up by a mid-teen percentage in the South America segment. Pre-tax return on
sales for the full year is expected to increase slightly in all of the
segments. The Company's outlook assumes no change in the 5.29 Venezuelan
bolivar to U.S. dollar exchange rate that has existed since mid 2010.

Uses of Cash

Dividends
The Company's Board of Directors today declared the Company's regular
quarterly dividend. The dividend declared was 62 cents per share, up 72% from
the previous quarterly dividend of 36 cents per share. It is payable on April
5, 2013 to shareholders of record as of March 20, 2013. The Company also
increased its target payout ratio from approximately one-third to 50 percent
of trailing diluted earnings per share, excluding items, and continues to
expect that its Board will consider increasing the quarterly dividend with its
declaration in the first quarter of each year.

Leverage Target
The Company today increased its leverage target from 1.5 to 1.75X Adjusted
EBITDA. After funding its working and fixed capital needs to support its
continued organic growth and funding its dividend to shareholders as outlined
above, the Company intends to use remaining available cash flow and borrowings
in line with its leverage target to repurchase shares under its $2 billion
authorization.

*See Non-GAAP Financial Measures Reconciliation Schedules.
** The Company classifies Established Market Units as those operating in
Western Europe, including Scandinavia, the United States, Canada, Australia
and Japan and its remaining units as Emerging Market Units.
^+ Local currency changes are measured by comparing current year results with
those of the prior year translated at the current year's foreign exchange
rates.

Fourth Quarter Earnings Conference Call

Tupperware Brands will conduct a conference call today, Tuesday,January 29,
2013, at 8:30 am Eastern time. The conference call will be webcast and
accessible, along with a copy of this news release, on
www.tupperwarebrands.com.

Tupperware Brands Corporation is a portfolio of global direct selling
companies, selling innovative, premium products across multiple brands and
categories through an independent sales force of 2.8 million. Product brands
and categories include design-centric preparation, storage and serving
solutions for the kitchen and home through the Tupperware brand and beauty and
personal care products for consumers through the Armand Dupree, Avroy Shlain,
BeautiControl, Fuller Cosmetics, NaturCare, Nutrimetics, and Nuvo brands.

The Company's stock is listed on the New York Stock Exchange (NYSE: TUP).
Statements contained in this release, which are not historical fact and use
predictive words such as "outlook", "expects" or "target" are forward-looking
statements. These statements involve risks and uncertainties that include
recruiting and activity of the Company's independent sales forces, the success
of new product introductions and promotional programs, governmental approvals
of materials for use in food containers and beauty and personal care products,
the success of buyers in obtaining financing or attracting tenants for
commercial and residential developments, the effects of economic and political
conditions generally and foreign exchange risk in particular and other risks
detailed in the Company's periodic reports as filed in accordance with the
Securities Exchange Act of 1934.

The Company does not intend to update forward-looking information, other than
through its quarterly earnings releases, unless it expects diluted earnings
per share for the current quarter, excluding items impacting comparability and
the impact of changes in foreign exchange rates, to be significantly below its
previous guidance.

Non-GAAP Financial Measures

The Company has utilized non-GAAP financial measures in this release, which
are provided to assist readers' understanding of the Company's results of
operations. These amounts, identified as items impacting comparability, at
times materially impact the comparability of the Company's results of
operations. The adjusted information is intended to be indicative of
Tupperware Brands' primary operations, and to assist readers in evaluating
performance and analyzing trends across periods.

The non-GAAP financial measures exclude gains from the sale of property, plant
and equipment and insurance settlements related to casualty losses, inventory
obsolescence in conjunction with decisions to exit or significantly
restructure businesses, asset retirement obligations, and re-engineering
costs. Further, while the Company is engaged in a multi-year program to sell
land adjacent to its Orlando, Florida headquarters, and also disposes of other
excess land and facilities periodically, these activities are not part of the
Company's primary business operations. Additionally, amounts recognized in
any given period are not indicative of amounts that may be recognized in any
particular future period. For this reason, these amounts are excluded as
indicated. Further, the Company excludes significant charges related to
casualty losses caused by significant weather events, fires or similar
circumstances. It also excludes any related gains resulting from the
settlement of associated insurance claims. While these types of events can and
do recur periodically, they are excluded from indicated financial information
due to their distinction from ongoing business operations, inherent volatility
and impact on the comparability of earnings across quarters. Also, the
Company periodically records exit costs accounted for using the applicable
accounting guidance for exit or disposal cost obligations and other amounts
related to rationalizing its supply chain operations and other restructuring
activities, including upon liquidation of operations in a country the
recognition in income of amounts previously recorded in equity as a cumulative
translation adjustment, and believes these amounts are similarly volatile and
impact the comparability of earnings across quarters. Therefore, they are
also excluded from indicated financial information to provide what the Company
believes represents a useful measure for analysis and predictive purposes.
The Company has also excluded in its non-GAAP measures the expense incurred
upon the impairment of its floating to fixed interest swaps and the write off
of deferred debt costs in connection with the notes it sold and the new
revolving credit agreement that it entered into in June 2011. The Company
believes that excluding from indicated financial information costs incurred in
connection with a significant change in its capital structure that is of a
nature that would be expected to recur infrequently, also provides a useful
measure for analysis and predictive purposes.

The Company has also elected to present financial measures excluding the
impact of amortizing the purchase accounting carrying value of certain
definite-lived intangible assets, primarily the value of independent sales
forces recorded in connection with the Company's December 2005 acquisition of
the direct selling businesses of Sara Lee Corporation. The amortization
expense related to these assets will continue for several years; however,
based on the Company's current estimates, this amortization will decline as
the years progress. Similarly, in connection with itsevaluation of the
carrying value of acquired intangible assets and goodwill, the Company has
periodically recognized impairment charges. The Company believes that these
types of non-cash charges will not be representative in any single reporting
period of amounts recorded in prior reporting periods or expected to be
recorded in future reporting periods. Therefore, they are excluded from
indicated financial information to also provide a useful measure for analysis
and predictive purposes.

As the impact of changes in exchange rates are an important factor in
understanding period-to-period comparisons, the Company believes the
presentation of results on a local currency basis, in addition to reported
results, helps improve readers' ability to understand the Company's operating
results and evaluate performance in comparison with prior periods. The Company
presents local currency information that compares results between periods as
if current period exchange rates had been the exchange rates in the prior
period. The Company uses results on a local currency basis as one measure to
evaluate performance. The Company generally refers to such amounts as
calculated on a local currency basis, as restated or excluding the impact of
foreign currency. These results should be considered in addition to, not as a
substitute for, results reported in accordance with GAAP. Results on a local
currency basis may not be comparable to similarly titled measures used by
other companies and are not measures of performance presented in accordance
with GAAP.

In information included with this release, the Company has referred to
Adjusted EBITDA and a Debt/Adjusted EBITDA ratio, which are non-GAAP financial
measures used in the Company's credit agreement. The Company uses these
measures in its capital allocation decision process and in discussions with
investors, analysts and other interested parties and therefore believes it is
useful to disclose this amount and ratio. The Company's calculation of these
measures is in accordance with its credit agreement, and is set forth in the
reconciliation from GAAP amounts in an attachment to this release; however,
the reader is cautioned that other companies define these measures in
different ways, and consequently they will likely not be comparable with
similarly labeled amounts disclosed by others.



TUPPERWARE BRANDS CORPORATION
FOURTH QUARTER SALES STATISTICS*
(UNAUDITED)
            Reported   Restated^+  Active  Inc/(Dec)     Total     Inc/(Dec)
All Units   Sales      Sales       Sales   vs. 4Q        Sales     vs. 4Q
            Inc/(Dec)% Inc/(Dec)%  Force   '11           Force     '11
                                           %                       %
Europe      (2)        1           97,991  4             627,167   9
Asia        11         11          238,916 3         ^b  980,498   6
Pacific
TW North    8          5           91,769  (14)      ^c  330,859   2
America
Beauty
North       (1)        (6)         278,777 (16)      ^d  545,102   (5)       ^d
America
South       16         26          93,525  (8)       ^e  309,128   13        ^f
America
Total All   5          6           800,978 (7)       ^a, 2,792,754 5
Units                                                c
Emerging
Market
Units
Europe      0          2           62,324  6             448,530   13
Asia        14         16          207,474 5         ^b  878,545   9
Pacific
TW North    15         8           82,147  3             255,735   8
America
Beauty
North       1          (5)         245,050 (17)      ^d  457,778   (5)       ^d
America
South       16         26          93,525  (8)       ^e  309,128   13        ^f
America
Total
Emerging    10         11          690,520 (6)           2,349,716 7
Market
Units
Established
Market
Units
Europe      (3)        0           35,667  0             178,637   2
Asia        0          1           31,442  (9)           101,953   (10)
Pacific
TW North    3          2           9,622   (65)      ^c  75,124    (12)
America
Beauty
North       (8)        (8)         33,727  (4)           87,324    (5)
America
South       -          -           -       -             -         -
America
Total
Established (2)        0           110,458 (17)      ^c  443,038   (5)
Market
Units

* Sales force statistics as collected by the Company and, in some cases,
provided by distributors and sales force. The company classifies Established
Market Units as those operating in Western Europe, including Scandinavia, the
United States, Canada, Australia and Japan, and its remaining units as
Emerging Market Units. Active Sales Force is defined as the average number of
people ordering in each cycle over the course of the quarter, and Total Sales
Force is defined as the number of sales force members of the units as of the
end of the quarter.

^+ Local currency changes are measured by comparing current year results with
those of the prior year translated at the current year's foreign exchange
rates.

Notes

^a Approximately three quarters of the overall difference between the 6% local
currency sales increase and 7% decrease in active sellers reflected a shift in
sales between reporting segments. There was a shift in active sellers towards
Europewhich hashigher levels of productivity from a large portion of its
business being in established market units where housewares are sold at
relatively higher price points than beauty and personal care products and
through group demonstrations. There was a shift away from Beauty North
America, where active sellers decreased, where sales are of beauty and
personal care products at relatively low price points and where Fuller Mexico
sells through one-on-one contact.

^b Higher growth in local currency sales than in active sellers reflected
higher standards in Indonesia and a mix shift toward Indonesia and
Malaysia/Singapore, which have higher than average productivity, and away from
the Philippines, which has lower than average productivity. As well, a
separate beauty unit in Malaysia ceased operating in 2011, and it had a
relatively high number of active sellers with below-average order sizes.

^c In the third quarter of 2012, the Tupperware U.S. and Canada business
began measuring sales force activity on a weekly rather than a monthly basis.
For the fourth quarter, this had a negative 16, 1, 60 and 13 percentage point
impact on the total Tupperware North America, total company, Tupperware North
America established markets and total company established market comparisons,
respectively.

^d Much lower actives this year, with a much smaller decrease in sales and end
of the quarter deficit in total sales force size, reflected a large number of
less engaged sellers at Fuller Mexico in the early part of the third quarter
of 2011. Also contributing were higher standards under award programs leading
to a higher order size in 2012. This also impacted the year-over-year
comparison of total versus active sellers.

^e Higher restated sales than active seller increase reflected price
increases, along with a mix shift toward the more housewares focused/higher
net per unit businesses in Brazil and Venezuela. Also contributing was an
increase in order size requirement in Argentina, together with a mix shift
toward housewares at higher price points than beauty and personal care
products.

^f The total sales force in South America was up more significantly than the
active sales force, from comparisons in Brazil, where changes in qualification
levels for awards led to a lower number of higher value orders. There was
also a mix shift away from Argentina, which as a beauty and personal care
focused unit that operates on a campaign cycle, has a much higher activity
rate for its sales force than the segment overall.



TUPPERWARE BRANDS CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
                         13 Weeks      13 Weeks     52 Weeks      53 Weeks
                         Ended         Ended        Ended         Ended
                         Dec 29,       Dec 31,      Dec 29,       Dec 31,
(In millions, except per 2012          2011         2012          2011
share data)
                         $        $       $        $     
Net sales                   711.0              2,583.8     2,585.0
                                       676.1
Cost of products sold    237.1         226.3        856.4         862.5
Gross margin             473.9         449.8        1,727.4       1,722.5
Delivery, sales and      343.4         327.7        1,329.5       1,340.0
administrative expense
Re-engineering and       18.4          3.2          22.4          7.9
impairment charges
Impairment of goodwill   -             -            76.9          36.1
and intangible assets
(Loss) gain on disposal
of assets incl.          (0.1)         3.1          7.9           3.8
insurance recoveries
Operating income         112.0         122.0        306.5         342.3
Interest income          0.6           0.7          2.5           3.2
Interest expense         7.9           7.9          34.9          49.0
Other expense            1.2           0.6          1.3           1.2
Income before income     103.5         114.2        272.8         295.3
taxes
Provision for income     29.0          27.3         79.8          77.0
taxes
                         $        $       $        $     
Net income                                     193.0     218.3
                         74.5         86.9
Net income per common
share:
Basic earnings per       $        $       $        $     
share:                                                   
                         1.37         1.53        3.49         3.63
Diluted earnings per     $        $       $        $     
share:                                                   
                         1.34         1.50        3.42         3.55



TUPPERWARE BRANDS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
(Amounts in millions,
except per share)
                  13      13                                          52      53
                  Weeks  Weeks                                       Weeks   Weeks
                  Ended  Ended  Reported  Restated  Foreign   Ended  Ended  Reported  Restated  Foreign
                  Dec     Dec     %           %           Exchange  Dec     Dec     %           %           Exchange
                  29,     31,                                         29,     31,
                  2012     2011     Inc        Inc        Impact *  2012     2011     Inc        Inc        Impact *
                                    (Dec)      (Dec)                                    (Dec)      (Dec)
Net Sales:
 Europe     $     $      (2)         1           $       $      $      (7)         1           $   
                  221.2    225.1                           (5.8)       791.4   848.9                           (62.0)
 Asia        219.2    198.1    11          11          (1.4)       780.7    714.0    9           12          (17.1)
Pacific
 TW North    91.5     84.9     8           5           2.5         344.8    352.0    (2)         (0)         (7.1)
America
 Beauty      91.3     92.5     (1)         (6)         4.4         348.3    395.5    (12)        (9)         (14.3)
North America
 South       87.8     75.5     16          26          (6.0)       318.6    274.6    16          29          (26.8)
America
                  $     $      5           6           $       $       $       (0)         5           $  
                  711.0    676.1                           (6.3)       2,583.8  2,585.0                          (127.3)
Segment
profit:
 Europe     $     $     1           4           $       $      $      (11)        (4)         $   
                   50.7  50.1                            (1.5)       131.6   148.3                           (11.2)
 Asia        54.0     46.8     15          17          (0.9)       172.7    147.0    17          23          (6.4)
Pacific
  TW North    18.4     16.1     15          10          0.7         63.7     58.4     9           13          (1.9)
America
 Beauty      7.2      10.6     (32)        (37)        0.8         30.2     37.9     (20)        (14)        (2.6)
North America
 South       18.8     15.3     22          34          (1.3)       61.0     48.6     25          42          (5.6)
America
                  149.1    138.9    7           9           (2.2)       459.2    440.2    4           11          (27.7)
Unallocated      (19.8)   (17.4)   14          14          -           (62.6)   (58.9)   7           4           (1.5)
expenses
(Loss) gain on
disposal of
assets            (0.1)    3.1      -           -           -           7.9      3.8      +         +         -
including
insurance
recoveries
Re-engineering
and impairment    (18.4)   (3.2)    +         +         -           (22.4)   (7.9)    +         +         -
charges
Impairment of
goodwill and      -        -        +         +         -           (76.9)   (36.1)   +         +         -
intangible
assets
Interest         (7.3)    (7.2)    1           1           -           (32.4)   (45.8)   (29)        (29)        -
expense, net
Income before    103.5    114.2    (9)         (8)         (2.2)       272.8    295.3    (8)         3           (29.2)
taxes
Provision for    29.0     27.3     6           9           (0.6)       79.8     77.0     4           14          (7.0)
income taxes
Net income      $     $     (14)        (13)        $       $      $      (12)        (2)         $   
                   74.5  86.9                            (1.6)       193.0   218.3                           (22.2)
Net income per   $     $                                         $     $   
common share       1.34  1.50    (11)        (9)         (0.03)      3.42    3.55    (4)         7           (0.36)
(diluted)
Weighted
Average number    55.6     58.1                                         56.4     61.4
of diluted
shares
* 2012 actual compared with 2011 translated at 2012
exchange rates.



TUPPERWARE BRANDS CORPORATION
NON-GAAP FINANCIAL MEASURES
(UNAUDITED)
(In millions
except per share
data)
                 13 Weeks Ended Dec 29, 2012     13 Weeks Ended Dec 31, 2011
                 Reported    Adj's      Excl    Reported  Adj's     Excl
                                         Adj's                        Adj's
Segment profit
Europe           $         $       a $     $  50.1  $     a $   
                 50.7       (0.2)      50.5              0.1       50.2
Asia Pacific     54.0        0.2      a 54.2    46.8      0.8     a 47.6
TW North America 18.4        -           18.4    16.1      -          16.1
Beauty North     7.2         0.2      a 7.4     10.6      0.3     a 10.9
America
South America    18.8        -           18.8    15.3      -          15.3
                 149.1       0.2         149.3   138.9     1.2        140.1
Unallocated      (19.8)      -           (19.8)  (17.4)    -          (17.4)
expenses
(Loss) gain on
disposal of      (0.1)       0.1      c -       3.1       (3.1)   c -
assets
Re-eng and       (18.4)      18.4     d -       (3.2)     3.2     d -
impairment chgs
Interest         (7.3)       -           (7.3)   (7.2)     -          (7.2)
expense, net
Income before    103.5       18.7        122.2   114.2     1.3        115.5
taxes
Provision for    29.0        (2.1)    g 26.9    27.3      1.1     g 28.4
income taxes
Net income       $         $  20.8    $     $  86.9  $        $   
                 74.5                   95.3              0.2       87.1
Net income per   $                     $               $       $   
common share     1.34       $  0.37    1.71    $  1.50  -         1.50
(diluted)
                 52 Weeks EndedDec 29, 2012     53 Weeks Ended Dec 31, 2011
                 Reported    Adj's      Excl    Reported  Adj's     Excl
                                         Adj's                        Adj's
Segment profit
Europe           $  131.6  $      a $      $ 148.3   $     a $  
                             0.6        132.2             0.5       148.8
Asia Pacific     172.7       0.9      a 173.6   147.0     2.9     a 149.9
TW North America 63.7        -           63.7    58.4      -          58.4
Beauty North     30.2        0.8      a 31.0    37.9      1.1     a 39.0
America
South America    61.0        -           61.0    48.6      0.1     a 48.7
                 459.2       2.3         461.5   440.2     4.6        444.8
Unallocated      (62.6)      (0.5)    b (63.1)  (58.9)    -          (58.9)
expenses
Gains on
disposal of      7.9         (7.9)    c -       3.8       (3.8)   c -
assets including
insurance rec
Re-eng and       (22.4)      22.4     d -       (7.9)     7.9     d -
impairment chgs
Impairment of
goodwill and     (76.9)      76.9     e -       (36.1)    36.1    e -
intangible
assets
Interest         (32.4)      -           (32.4)  (45.8)    19.8    f (26.0)
expense, net
Income before    272.8       93.2        366.0   295.3     64.6       359.9
taxes
Provision for    79.8        4.8      g 84.6    77.0      9.6     g 86.6
income taxes
Net income       $  193.0  $  88.4    $      $ 218.3   $         $  
                                         281.4             55.0       273.3
Net income per   $                     $               $         $   
common share     3.42       $  1.57    4.99    $  3.55  0.90       4.45
(diluted)



(a) Amortization of intangibles of acquired beauty units for all periods, as
well as inventory obsolescence adjustments in connection with exiting small
Nutrimetics businesses of ($0.3) million and $0.5 million in the fourth
quarters of 2012 and 2011, respectively, and $0.2 million for full-year 2012.
(b) Change in estimate of asset retirement obligation for the Company's
Orlando and South Carolina locations.
(c) Gain on disposal of assets of $7.9 million in 2012 was from $0.2 million
of insurance proceeds related to a flood in the Company's Venezuela operations
and $7.5 million from the sale of a facility in Belgium, as well as $0.2
million of other small asset impairments and equipment sales, of which $0.1
million occurred in the fourth quarter. Gain on disposal of assets in 2011 of
$3.8 million included insurance proceeds of $3.1 million related to a flood in
Australia, which was received in the fourth quarter, as well as $0.7 million
related to the sale of land held for development near the Company's Orlando,
FL headquarters.
(d) Re-engineering and impairment charges of $22.4 million in 2012 were
primarily for relocation expenses in New Zealand, Poland and in the Company's
Fuller Mexico operations and severance costs incurred to reduce headcount in
the Company's Argentina, Australia, BeautiControl, Belgium, Diecraft, France,
Greece, Japan, Mexico, Poland, Switzerland and United Kingdom operations, of
which $18.4 million was incurred in the fourth quarter. Included in the fourth
quarter 2012 amount was a charge to write-off the cumulative translation
adjustment amount related to the Company's United Kingdom operations upon the
exit from that country. Re-engineering and impairment charges of $7.9 million
in 2011 were primarily related to severance costs incurred to reduce headcount
in the Company's Argentina, Australia, BeautiControl, France, Greece, Japan,
Malaysia, Mexico, Spain and South Carolina operations, of which $3.2 million
was incurred in the fourth quarter.
(e) After review, the purchase accounting intangibles of BeautiControl ,
NaturCare Japan and Nutrimetics were deemed to be impaired, resulting in
non-cash charges of $76.9 million in 2012. In 2011, the purchase accounting
intangibles of Nutrimetics were deemed to be impaired, resulting in a non-cash
charge of $36.1 million.
(f) The $19.8 million adjustment in 2011 was related to the impairment of
interest rate swaps and the write-off of deferred debt costs in conjunction
with the early extinguishment of debt.
(g) Provision for income taxes represents the net tax impact of adjusted
amounts determined on an item-by-item basis.
See note regarding non-GAAP financial measures in the attached press release.



TUPPERWARE BRANDS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
                                        52 Weeks Ended      53 Weeks Ended
                                        December 29,        December 31,
(In millions)                           2012                 2011
OPERATING ACTIVITIES
     Net cash provided by operating     $             $       
     activities                         298.7               274.7
INVESTING ACTIVITIES
  Capital expenditures                  (75.6)               (73.9)
  Proceeds from disposal of property,   10.8                 5.0
  plant & equipment
     Net cash used in investing         (64.8)               (68.9)
     activities
FINANCING ACTIVITIES
  Dividend payments to shareholders     (77.6)               (73.8)
  Net proceeds from issuance of senior  -                    393.3
  notes
  Repurchase of common stock            (205.0)              (428.6)
  Repayment of long-term debt and       (2.3)                (407.4)
  capital lease obligations
  Net change in short-term debt         6.0                  193.5
  Debt issuance costs                   -                    (3.0)
  Proceeds from exercise of stock       12.9                 16.1
  options
  Excess tax benefits from share-based  13.5                 9.0
  payment arrangements
     Net cash used in financing         (252.5)              (300.9)
     activities
Effect of exchange rate changes on
cash and
  cash equivalents                      0.2                  (15.4)
Net change in cash and cash             (18.4)               (110.5)
equivalents
Cash and cash equivalents at beginning  138.2                248.7
of year
Cash and cash equivalents at end of     $             $       
period                                  119.8               138.2



TUPPERWARE BRANDS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
                                                 Dec. 29,           Dec. 31,
(In millions)                                    2012               2011
Assets
Cash and cash equivalents                       $     119.8        $ 138.2
Other current assets                                  652.6          631.2
 Total current assets                                772.4          769.4
Property, plant and equipment, net                    298.8          273.1
Other assets                                          736.8          801.7
 Total assets                                  $     1,808.0      $ 1,844.2
Liabilities and Shareholders' Equity
Short-term borrowings and current
 portion of long-term debt                     $     203.4        $ 195.7
Accounts payable and other current liabilities        495.8          477.7
 Total current liabilities                           699.2          673.4
Long-term debt                                        414.4          415.2
Other liabilities                                     217.0          254.8
 Total shareholders' equity                          477.4          500.8
 Total liabilities and shareholders' equity    $     1,808.0      $ 1,844.2
Debt to Adjusted EBITDA* Ratio for the fourth quarter ended December 29,
2012: 1.34 times
*Adjusted EBITDA as defined in the Company's credit agreement
under
 Consolidated EBITDA. See calculation attached to this
release.



TUPPERWARE BRANDS CORPORATION
NON-GAAP FINANCIAL MEASURES OUTLOOK RECONCILIATION SCHEDULE
January 29, 2013
(UNAUDITED)
($ in millions, except per share
amounts)
                                       First Quarter    First Quarter
                                       2012 Actual      2013 Outlook
                                                        Range
                                                        Low          High
Income before income taxes             $   77.3      $       $  
                                                        74.9        78.5
 Income tax                         19.0             18.1         19.0
 Effective Rate                25%              24%          24%
 Net Income (GAAP)                  $   58.3      $       $  
                                                        56.8        59.5
 % change from prior year                       -3%          2%
 Adjustments^(1):
 Gains on disposal of                            $       $    
assets including insurance             $    (0.2)      -        -
recoveries
 Re-engineering and other       0.4              3.5          3.5
restructuring costs
 Acquired intangible asset      0.5              0.4          0.4
amortization
 Income tax ^(2)                -                (1.2)        (1.2)
 Net Income (adjusted)             59.0             59.5         62.2
 Exchange rate impact ^(3)       (1.6)            -            -
 Net Income (adjusted and 2012     57.4             59.5         62.2
restated for currency changes)
 % change from prior year                       4%           8%
Net income (GAAP) per common share     $   1.02      $       $  
(diluted)                                               1.04        1.09
 % change from prior year                       2%           7%
Net Income (adjusted) per common       $   1.03      $       $  
share (diluted)                                         1.09        1.14
Net Income (adjusted & restated)       $   1.01      $       $  
per common share (diluted)                              1.09        1.14
 % change from prior year                       8%           13%
Average number of diluted shares       57.1             54.5         54.5
(millions)
^(1) Refer to Non-GAAP Financial Measures section of attached release for
description of the general nature of adjustment items
^(2) Represents income tax impact
of adjustments
^(3) Difference between 2012 actual and 2012
restated at current currency exchange rates
See the note related to Venezuela foreign exchange on the following page



TUPPERWARE BRANDS CORPORATION
NON-GAAP FINANCIAL MEASURES OUTLOOK RECONCILIATION SCHEDULE
January 29, 2013
(UNAUDITED)
($ in millions, except per
share amounts)
                                  Full Year           Full Year
                                  2012 Actual         2013 Outlook
                                                      Range
                                                      Low          High
Income before income taxes           $  272.8       $        $  389.3
                                                      378.7
 Income tax                       79.8             92.0         94.6
 Effective Rate              29%              24%          24%
 Net Income (GAAP)                $  193.0       $        $  294.7
                                                      286.7
 % change from prior                          49%          53%
year
 Adjustments^(1):
 Gains on disposal of         $             $        $    
assets including insurance           (7.9)               -      -
recoveries
 Re-engineering and           22.1             10.0         10.0
other restructuring costs
 Acquired intangible          2.1              1.4          1.4
asset amortization
 Purchase accounting          76.9             -            -
intangibles impairments
 Income tax ^(2)              (4.8)            (3.5)        (3.5)
 Net Income (adjusted)           281.4            294.6        302.6
 Exchange rate impact          2.7              -            -
^(3)
 Net Income (adjusted and
2012 restated for currency           284.1            294.6        302.6
changes)
 % change from prior                          4%           7%
year
Net income (GAAP) per common         $   3.42      $        $  
share (diluted)                                        5.47      5.62
 % change from prior                          60%          64%
year
Net Income (adjusted) per            $   4.99      $        $  
common share (diluted)                                 5.62      5.77
Net Income (adjusted &                                $        $  
restated) per common share           $   5.04       5.62      5.77
(diluted)
 % change from prior                          12%          14%
year
Average number of diluted            56.4             52.4         52.4
shares (millions)
^(1) Refer to Non-GAAP Financial Measures section of attached release for
description of the general nature of adjustment items
^(2) Represents income tax
impact of adjustments
^(3) Difference between 2012 actual and 2012
restated at current currency exchange rates
The Company's outlook assumes no changes in the 5.29 bolivar to U.S. dollar
exchange rate in effect since mid-2010. If the rate had gone to 17 bolivars
to the dollar as of the beginning of 2013, the Company estimates its
full-year 2013 pre-tax earnings would be $28 million lower than shown above,
of which about $19 million would relate to amounts already on the balance
sheet at the end of 2012 and the rest to the translation of 2013 activity at
the lower rate.



TUPPERWARE BRANDS CORPORATION
ADJUSTED EBITDA AND DEBT/ADJUSTED EBITDA *
(UNAUDITED)
                                                        As of and for
                                                        the Four Quarters
                                                        Ended
                                                        December 29,
                                                        2012
  Adjusted EBITDA:
  Net income                                      $     193.0
  Add:
  Depreciation and amortization                         49.6
  Gross interest expense                                34.9
  Provision for income taxes                            79.8
  Pretax non-cash re-engineering and impairment         93.3
  charges
  Equity compensation                                   20.1
  Deduct:
  Gains on land sales, insurance recoveries,            (8.4)
  etc.
  Total Adjusted EBITDA                           $     462.3
  Consolidated total debt                         $     617.8
  Divided by adjusted EBITDA                            462.3
  Debt to Adjusted EBITDA Ratio                         1.34
* Amounts and calculations are based on the definitions and provisions of the
  Company's $450 million Credit Agreement
  dated June 2, 2011 and, where applicable, are based on the trailing four
  quarter amounts. "Adjusted EBITDA" is
  calculated as defined for "Consolidated EBITDA"
  in the Credit Agreement.





SOURCE Tupperware Brands Corporation

Website: http://www.tupperwarebrands.com
Contact: Teresa Burchfield, +1-407-826-4475