Tupperware Brands Corp. shares jumped 6 percent after the maker of plastic containers said sales were improving in overseas markets.
Sales are tracking near the high end of its forecast for the third quarter, based on local currencies, the Orlando, Florida-based company said in a statement Wednesday. Its performance is rebounding in Indonesia, France and Italy, and growth in Argentina, Brazil, China, Mexico and South Africa remains strong despite economic challenges, Tupperware said.
“While we, like many other global consumer products companies are navigating through a volatile external environment, particularly in the emerging markets, we are pleased that two months into the quarter we are tracking toward the high end of our local currency sales outlook range,” Chief Executive Officer Rick Goings said in the statement.
The stock climbed to $52 in New York, the biggest one-day gain since Jan. 28. Tupperware shares had been down 22 percent this year before the rally.