Tupperware stock plunges after warning it could go out of business

The company said it is exploring potential layoffs, and it's reviewing its real estate portfolio for potential money-saving efforts.

"Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position," CEO Miguel Fernandez said in a press release. "The company is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate action to seek additional financing and address our financial position.

Several issues are hurting Tupperware, including a "sharp decline in the number of sellers, a consumer pullback on home products, and a brand that still does not fully connect with younger consumers," according to Neil Saunders, retail analyst and managing director at GlobalData Retail. "The company used to be a hotbed of innovation with problem-solving kitchen gadgets, but it has really lost its edge," he said.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Micron, Tesla, Apple, Tupperware and other stocks on the moveTupperware, Micron Technology and Pioneer Resources were among the biggest moving shares on Monday.
Source: MarketWatch - 🏆 3. / 97 Read more »

Tupperware stock plunges after warning it could go out of business | CNN BusinessThe 77-year-old company planned to grow its business through multiple retail channels -- like Target -- and get its products in front of younger consumers who’ve never even heard of Tupperware parties. That has failed to work so far. surprised they lasted as long as they did after Gladware came to stores decades ago Tupperwhere? 'You still get the free sailboat though'
Source: CNN - 🏆 4. / 95 Read more »

Tupperware’s stock craters after food-storage company warns it may go bustTupperware Brands Corp.'s stock slid 45% Monday to the lowest level in three years. I guess no more people hosting Tupperware parties
Source: MarketWatch - 🏆 3. / 97 Read more »

Tupperware stock plunges after warning it could go out of businessTupperware shares fell nearly 40% in early trading Monday following a bleak warning that its future is looking murky.
Source: KSLcom - 🏆 549. / 51 Read more »