Posted on 04/10/2023 7:46:43 AM PDT by NautiNurse
New York CNN —
Tupperware shares fell nearly 40% in early trading Monday following a bleak warning that its future is looking murky.
In a regulatory filing late Friday, the container maker said there’s “substantial doubt about the company’s ability to continue as a going concern,” and that it’s working with financial advisers to find financing to stay afloat.
Tupperware said it won’t have enough cash to fund its operations if it doesn’t secure additional money. The company said it is exploring potential layoffs, and it’s reviewing its real estate portfolio for potential money-saving efforts.
The New York Stock Exchange also warned that Tupperware’s stock is in danger of being de-listed for not filing a required annual report.
[Snip]
The 77-year-old business has been struggling in recent years to maintain its relevance against rivals. It has been trying to shed its staid image and attract younger customers with newer and trendier products. It also struck a deal with Target last year to sell its products.
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.
[Snip]
Shares are down 90% over the past year. It also issued another “going concern” warning last November.
(Excerpt) Read more at cnn.com ...
Their fate is sealed........................
Muy bueno!
Question: Where are their products made? Does anybody know?
The thrift stores are filled with used Tupperware.
“...a brand that still does not fully connect with younger consumers” — how in the world do prosaic storage containers “connect” with any consumer, young or old?
I just bought a bunch more ZipLoc containers. They are dirt cheap, snap shut tightly and do the job. I aways hand-wash storage containers because the dishwasher never seems to do the job for old, dried-out, hardened mac & cheese or meatloaf.
Isn’t Tupperware the first plastic storage container and wasn’t it sold door-to-door by women? Then didn’t that grow into “Tupperware parties”?
Products are too good. Like “This End Up” furniture.
Virginia I think.
Yah, I’d imagine it was a novelty back them but, now, like you say you can but one of 25 different types, that do the job, for, probably, a tenth of the cost of TW.
Yes and yes. It was part of the mid-century fascination with modernity and everything new and chemically enhanced. Jello and margarine were part of the same trend.
Walruses and Tupperware love a tight seal.
Tuppernowhere?
Yes , tupperware at one time was only sold by the sales women who did Tupperware parties.
A friend of my wife sold Tupperware. We had a couple of Tupperware parties at our house. I recall my wife got frustrated at the Tupperware sales woman friend, because at the Tupperware party, she became very assertive about trying to recruit my wife’s other friends to be Tupperware sales women.
My wife used to say she really liked the Tupperware products, but it was a pain in the butt to have to deal with a Tupperware sales woman to actually buy the products.
They may want to shift production to producing lids to replace those missing from the Tupperware everybody already owns.
Same, glass is just better and thrift stores are full of nice glass dishes.
*ouch*
And microwave. Plus it cleans better when you hold things like tomato sauce.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.