Tupperware Rises After Third-Quarter Profit Tops Estimatesby
Tupperware Brands Corp. rose the most in almost nine months after posting third-quarter profit that topped analysts’ estimates, helped by strong sales in emerging markets.
Profit was 79 cents a share, excluding some items, the Orlando, Florida-based company said Wednesday in a statement. Analysts estimated 71 cents, on average.
Tupperware, which sells products such as food containers and beauty products through a network of independent, door-to-door salesmen, is benefiting from growth abroad. Sales in Asia rose 6 percent in local currency terms, including an 18 percent gain in China, while revenue by that measure increased 21 percent in South America.
Tupperware rose 8.4 percent to $59.81 at the close in New York. The shares have slid 5.1 percent this year.