TUP - Earnings call transcript Q2 2018

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Operator

Good morning, ladies and gentlemen and welcome to today's Tupperware Brands Corporation Second Quarter 2018 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. It is now my pleasure to turn this program over to Ms. Tricia Stitzel, President and CEO. Ms. yours. is floor the Stitzel,

Patricia A. Stitzel

have Thank you with our here Orlando forward-looking remarks everyone. of the slides standard message good Poteshman, our morning on we prepared Mike our Hunt, Along I'm the CFO, usual HR. including in statements. with and provided and Head James

want take earnings the Now top results. quarter over line first President spend years. the deep and CEO, into call to than dive usual this I talking coming the I since strategic my I time and units. the and And as months focus brand is envision about want quickly more rather to Tupperware for our what

XX-day drag shutdown businesses French below the this the our this you economy. local sales after were by points currency from seen part in in impacts to was the down X and the April of force fact sales end the in closure. X% blockade and Beauticontrol combining the additions, and that driven Japan. our activity guidance, entire the business As wind have And lingering following truckers our Brazil release morning, plant down And low in for in local our adjusting

in down the accounting segment a economy and XX% after drive from adjusted performance. sales, of XX% in sales outs quarter of our impacted year-over-year albeit were our our And and above Beauticontrol comparisons. and X-point established EPS emerging in is Our this which for including markets ins second the actions was from coming the changes the unit, the Japan. profit were Mike even adjusting to In $X.XX, came in market which our for quarter exchange range, on touch foreign April not going guidance

adjusting one-off for Our force that after the comparisons. up count was items impact the total year-over-year sales slightly

not satisfied having for of we ensure we're we with that they to consistent that to than better and we've drive that quarter. Now first And short while fell results results said more the recognized the acknowledging expectations quarter, need these changes that, sequentially were make the growth.

back literally world. And a At heart, I step company going is been. our we're nourish purpose fuel important And take cultivate of we ambitious to our on believe set lives, their inspire where future and goals. to am have we're very a need basis. women purpose-driven internally about at than excited let's have is the So a millions that daily picture, I and their more here that because and lives bigger where impacts confidence family some around the to they enrich communities the specifically look

to the bring generally by The And our take will We ultimately in level their quarter, grow our a that to million purpose next goal celebrating our level we begin are sales of of action others scalable to community. it's it's a to great with that's will thrive. us example seller movement a and It's extend and simple is the going help which And where we is most managers to going hand uplift us that in we on get need drive our journey. It's online offline. and a launched globally, about to manager our engagement first and that's the level. in have business global a her seen second it's to force them great support sales movement impactful and movement, potential see growth. a begin to promotion, place not global realize force the happening career help this mission full our and to there this add to XX,XXX X community we're sales more a and that to the

the in of half than adding managers of this two first We more have seen that businesses months our movement. already are

Now, XX than years. relationships have building lives we more impacting for and communities and been

how we built Well, we on I strength, of our can our that greatest focused have XX is success? achieve a the years purpose. another make plan sure for which do future So clear and

As inspiring they also lives, incredibly to and all confidence women need It's the create the to about engaging but its supportive cultivate to I said, their people people to with same. do others enrich powerful support community. this

I on social People take to plan whole their love, original easily level. the trust is and brand. are ensure We and everybody new to our simply has that terms. access to engage the with network. And a us my want that to respect opportunity And and

force look new. over we of or our mobile our unique past contact of or this a and we to flexibility. points. this which necessary our channels feel device for the choose points, consumers omnichannel can from sellers physical opportunity their access by provide to party, contact are will in be Consumers several but and time, a rolled our a of sales they via have And own at them. the have or any at access. brand have with both, through ways with, out So, globally a have months, our that and approach, or also to sales They of growing number branding team, force with the can have run their force, location a our contact business more for is and updated home, which one operate we on our to contact online with you kind own And any consistent all can engage sales provide

our access help located also So, locations way and this force sales to Tupperware opportunity. less and experience through and are is force an going so consumers to studio demonstrations, brand, sales and of more people in socialize. the our new visibility interactive work, the events, engaging to to improve administration our that And require for about and us and live, where they cooking product learn course better

at service They developing have are brand. course different owned. by investment so the well-located you similar Colombia, that know in have works. in growing it model size are the opportunity it's although require additional it places States leaders United sales a the Canada. these size, course, we're double know know, today that have access of China. sales than rolled piloted across And we And independently do India, digits an and and these we working capabilities We out our in technology location. that faster Brazil, and the force that locations evolution to have we force. relatively of this market, in do you studio we're Russia, of various Korea, And said, still certain enhance, we to will force those studios and physical not our does model sales also take seen that Japan, small And sample of but ways And leaders are

anywhere engagements, with us things on they really our deserve. and like videos addition our real sales succeed tools and engagements; apps, we're information through us terms, things time tools business make force demonstration consumers and anywhere in force will shareable allow of digital going to reach sales content. it sell products give that the to more and And our with our these lead our include These consumers we'll with their Now also anytime, easier and for to easily all force. sales wow to our that

stronger branded is our for include digital e-commerce personal the brand their ones goal relationships, and create while of ability to our presence, own So, strengthening capabilities. new to website have also sales force the through with existing

we're Canada is to in QX that continue this this Now some and we launched had just going have the in in and time, Germany, something we U.S. roll business and out. to that for recently

the consumers I important which will all benefiting engagement VP a to we enhance And critically help to also to our the helping for is relationship present us as on force, around digital Digital that for to the of online earning provides consumer, Now capabilities, to and also hired as he's brand, us. us outside this capabilities. enhancing, CRM presence leverage and our is sales while, develop of enhancing better relevant execute And the opportunity from which build said we've our marketing evolve with the strategy opportunity. Marketing better

strengthen systematizing, to works it few we we've we South Africa comes over and manager continue what training, We the recruiting, to fundamentals, and also been have now our that this what want our we globally and new results. program rolled have like when to is out doing talking about years past great program, countries have onboarding initiated And a Mexico consultant in with motivating. onboarding we and are piloting been

bring X on force get we traction along have Within are just than environment, enact are we or these outlined, business need we to take time, elements our change In strategies turn over the to some and going that have that we sales appropriate longer to with broad scale. when us. the others million there to will upon several I

strategic confusion thing is So, rush the in do the through cause worst we a and field. can change

in real together we together, these example these elements in see CIS, produce as Now boost And to consistent initiatives good purpose South of were our the a like leveraging that growth. we way come they countries Africa to come different of Mexico, that can the really and deliver how changing expect we lives. of a power on power see where

their deliver seen, carry recently plans. revitalization leadership as some talent team changes, a leverage repositioning mindset And our made to on better must our have promises, to our execute have these on Now I you transformational to strength.

as President returns continue bringing Ove we be transformation to leadership U.S. X, the European Fenne to redefined force to Middle the operations French and revitalization further change cultural sales driving closure and sales was hard He's we to from Hemus, our company reduction Through task objectives and a Vice thank Europe to combining who And Let be this XXXX, Many count at to and on going in Canada of Tupperware Europe. the of the to to extremely Europe our announced after Europe, has Stein truly leading our certain this. last Simon transformational in was year. Europe, the the Tupperware planning and Group that businesses, the walk where reins agent of has the made launched and force do you and has executing Stein He year. me head walked had retirement the effective change of communicated. in this the our be moved is his now of the say and which accomplish. taken that and really market need since able the Africa the uncomfortable earning he for groundwork When the Simon always to Chairman, first I'm July pleased of XXXX, opportunity, laid end his in one Ove East. to in And announce penetration. to difficult for growth over Simon main business and decisions plant, future. plan transformed credibility really greater as has

focus his getting opportunity. going elements top-line to on and to to key Now, relevant be tasked also the with fundamentals promotional our profitable growth. is global better are built of strategy on that growth revitalizing actions drive more executing earning going be our of core out leverage a He's

execution. model as transformation of in Bellonzi, has from was development, Jim expertise of business Jim business successful with and and Managing information and in in U.S. baton very named operations Ove, Stein strategy sales served corporate time Senior U.S. have and the Vice spent our in and has technology, taking roles business President Canada. Now we and digital President Director various Canada. Jim Tupperware

seen of Canada architects of can of social business media, tools role and It's model and as consistent and shown and how the the in established digital helped way rollout have pave the to as on the our one solid we to been grow key its a market. that in responsibilities, continue studio part Jim's years. his Jim leadership. they're we U.S. the which in strategy, and past piloting has expect growth several serves really also This has over use the transformation under innovative really we of Now,

cultivating serving marketing the global have strategies and relate as and all strengthen Group also Gupta, confidence XXXX. Executive will sales accelerate the force transformation things instrumental like since Chief is to expertise role our expand President strategies President digital results. corporate purpose Officer headquarters product, support Marketing named Pac of we the in embracing brand, upon Strategy the She's will and This really Asia Vice of Orlando, and be in our business driving at in leadership business Now, after and development. our about Asha in global in access, been to pioneer in that growth in and that a organization

headquarters, Pacific. Asha's to with am present Now, Group in Asia as President to move Justin I pleased Hewett our

leadership he's Europe, dynamics, African Though Tupperware as his in Area has the those market experience direct as first and the actually. you selling July businesses Africa businesses President and South there in an our Asia, responsibility on XXXX. momentum. Africa second in portfolio almost as both And to his the teams years served leverage management going has including Justin with to Vice around South expertise And Asia in Middle in XX in with takes East He reins emerging of he experience balance, have regain better in quarter, help than market results. Pacific in came quarter. sequentially in mixed seen his turning was again since Asia

promoting be find focus India. Indonesia traction sales our in in businesses of to We're and there, will force the priority need first out to and on managers Justin's to in force additions sales and Now leadership. going

last sequentially ripe from year. that are satisfied we until quarter, they was model units not better going businesses down opportunity still with they become markets us. were Now for this each to so be again These of are though, these

to is most continued. We increase leader perform And Now China's is given outlet the that's positive working critical have now the that X,XXX you'll unit a On in more better. has aggressive note, in outlets, shaped team of trends. have its reverse XX% XXXX. his now who expansion a size, Indonesia, Indonesia the June and we new over helping that terms a in segment remember

issues. ahead do mainly were sales and to continued become in third outlet we it's that the shift the expansion, well they marketing KPIs there there. as to against product see All look comparison in new XX% adding didn't are leveraging so quarter, promotional up drive we consumer China. year noting QX, productivity We This growth to accustomed growth see worth China. along also the that a last with forward increased some we've sizable and continued from strong mix members the good to, as digital quarter the for into data growth due But

will we portfolio we Now have the our that where President in management Luciano South especially our by be Group Garcia, America, each and in Mexican businesses Brazil continue across of America, businesses. in see led for Latin excellent to really teams,

allowed QX see we the the after So, are of the say of had the we in of a just to chain to that working. And see a business. words the few until that We the place the let reacceleration supply in on solutions me put results deal Brazil. that start with trucker QX intensified normalize to to pleased some operations in strikes difficult were actually rhythm this begun us year. Mid-second business – blockade them quarter, this disrupted completely custom the

But, behind delivery do everything were from raw could even give Brazil the soon we running. doing lifted, cash and in everything to credit for ground as as collection, from to to really so manufacturing to team they our So, materials. I the ordering blockade hitting that scenes, the delays in want

earning Mexico career both teams. businesses of very to our point external results. double to by believe path with a force sales focus third was that we're turned really externals its out well lastly, we those navigate to manager digits, opportunity deliver strong to And return As development continue while Mexico of headwinds so a quarter and Fuller both straight growth. that a built is and and want the solid in done on Mexico overcome going I path, growth, strong up Tupperware in this business these with strong

Now quarter overall, where going. calls represent the opportunity really that feel we're the and we don't of our puts or second

and about to purpose on the we to less we've our on shareholders. leadership wanted changes little but deliver details to think to quarter, So, return introduce I the there strategy the and gave out lay team you strategy, to and made the our a time what the I our

So, Mike, to it let over me you. turn

Michael S. Poteshman

Okay. Tricia. you, Thank

X-point in slightly mix were Japan XXXX. June up the was China hits volume into The NaturCare versus to gave a plus that absence our seen on On but comparison lower largely a came You've size decreases. big drag price advantage, which trucker well Tupperware the release impacts, included business a and and the line benefit, that number of the X%, was together Beauticontrol business in sales. from on X% without growth the earning in grew price those X-point in us earnings business volume had folding with about productivity also release down quarter in volume Versus the then total guidance, and a from in gain than basis measure. with double-digit, while of sales that more units with the our force action. associated that – noted outlets comparable Tricia expected the versus sales the of being Brazil that larger the

a impact sellers for in In the was there NaturCare addition from adding African X-point and from more X-point South CIS drag to requirements another and businesses. qualification new stringent Beauticontrol

these and Beauticontrol in lower $X.XX, of a turn active at even items there to more have after the as in China difficult the Importantly custom Indonesia a Brazil where units guidance $X.XX guidance diluted in range, Indonesia, X there, other Brazil is we and which saw of the trend. away what quarter without and below both an and the the elevated with sales action the sellers There and total the with quarter, from of shift X% versus had the we strike down in more than a last including trucker Active with criteria. were was big per level, a that force. that the effort the sellers but from total At $X.XX also Slide actions last drag and of earnings expected April under points hits lower sellers sales from high-end average compared grew XX were in year chain foreign profitability. a was was share was gave contributor negatives from NaturCare, shows April. taken mix together above the value from in course segment exchange in in in there light spending lower some sales

not management expense than lower did guidance. A rate the way, costs audit in a the were tax lower a lower lower shares, contributed other was lower savings included for outlook. and from the for guilty was an incentives corporate also tax initiatives, due in than estimate Going from $X.XX as to benefit There cost which expected settlement. then $X.XX and

unit, XXXX the As Brazil, shown the flow basis the lower currency, to for item cash to outflows activities, would with in year. from from pre-tax last points quarter. below compared points in which more slide asset improved comparison, more factors our million. in lower rates reflected being more XX that contributors local basis million looking offset primarily spending, reflecting guidance, costs. at $X million X.X-point income that partial $XX promotional high-end million spending sales the $XX return an updated about XX.X% is incentive efficient benefit Gross a outflows which the XX.X% basis without up couple biggest which disposition associated capital XXXX. same net points the of DS&A resin trade with million management the activities an as on of down operating in you $XXX XX, X.X-point of in and were with the reengineering, impact outs from in million XXXX. mix larger negative higher swings we next and guidance can On X.X quarter, various from that in at together this minor half $XX year was a slide was the approximate cash of guidance pre-tax versus Cash lower $XX activities of by Japan, a costs. see points from after margin related to There quarter and from from year. investing were were of investing The with net outflow re-engineering million This on items the comparison current this weaker XX%, from XX, European excluding exchange than sales, brought operating facility a items, dollars, impacting and country estimated bigger reduction but a inflow to million XX for the XX flow to ins with $XX turnaround April, million bigger $XX is warehouse also meaning is of a last was $XXX is with and offset expect than receivables down

stood half. Our $XXX million $XXX expectation year spending full land before after current million second cash capital in for we less our full flow million to Orlando the on of second program is $XX it's quarter share and repurchases, Versus to the million, in year expenditures is the any $X than April, $XXX for needed the fund billion. XXXX cash the where dividend

in we cash to of continue payouts. the it repurchases quarter, flow million million in on announced XXXX. that The see share of the plan generating complete meaningfully $XXX now our is worth to foresee higher second $XX repurchases but So, won't repurchases $XXX announced million quarter, than third the until April dividend update in made in we we is the make that the April we and possible

and down couple to Normalizing the and outlook After X%. guidance quarter on the third a for better X-point is currency XX. separate quarter local basis. drag is third Turning from units, Beauticontrol second points a to be to discontinued this a the the on not business, for the NaturCare X% than our of X-point than two-year the stack in having in better slide sales

year said, Beauticontrol points the on the to down second $X.XX about rate income down net – up at high impact gives at quarter a XX comparison year. without As then in sales versus X-point end on per drag quarter, from points. up the last versus was this Pre-tax year negative NaturCare FX end, drag the items was and tax and the $X.XX last earnings range a sales even on together with on dollars X-point last income comparison. from it's translation basis the high XX third we've X of a points is about is last a On in the and X basis pre-tax with us share is year points $X.XX. currency, return in local At although in

For year sales guidance with down to $X.XX the plus The is we've corporate benefit repurchases even down $X.XX, the costs, sales rate the $X.XX previous comparison full translation to year is implied increased half high shares X%. earnings end tax a from by range X% the This X-point $X.XX the quarter $X.XX. and NaturCare. year, total in of for quarter range This the guidance. full local includes Beauticontrol at Lower X% per fourth by drag updated given from foreign the actual, to weaker a includes and guidance third a the along first rates. of guidance second an hit currency from the share in lower the exchange from of for the quarter, less

expense to sales business. year outlook hits The the the remains interest for full million other higher million lower lower million in at way, value quarter full $X about in together sales forecast second well the foreseen and Going lower than as with costs with segments, second as segment associated profitability The cost and now forecast in in associated in the $XX The worth million. Brazil is mid April. cost higher the from is in year are the outlook about profit externals $XX costs half Indonesia lower chain resin April, $X.XX. with corporate turn $XX in

does into case take repurchases. As share the go-forward not account future April in the was guidance, guidance

respectively. program-to-date have and $XX been year-to-date program re-engineering million expense the On million, $XX and

now We coming down program a million range when another million million expect the second to $XX to versus $XXX for million program. the would We half was to foreseen $X to year the bring in the $XX by $XX full to program incur total this which announced $XXX million the ago. million see million $XXX

terms to to cash of $XXX foreseen the over entire we $XX outlays, pay million program. had originally In million

assets. expanse, foresee This at the we selling proceeds to range million million million. now from is before to As be excess $XX $XX lower $XX with the

out the of first paid million far, we've So program was $XX $XX this in million, under half which year. of the

expect quarter, in asset million pay be the $XX under to year the the words in in receive received up quarter, On other with first dispositions up out leave second together this another to would paid another million $XX XXXX. to we $XX million whole to program. million. $XX ultimately to We million received expect In out and $XX another $XX million or to million which XXXX $X

resolution of terms $XX just primarily now without of the items a a continues be foreseen in year, lower annualized foreseen from the estimated change full benefits year as rate XX%, ranges, XX%. million you of lower outlook. reflects April $XX to was of despite reinvestment, expense full this the $XX cash no we under million this doubt were program We GILTI tax benefit we be The of to our than words appreciated tax, In million is a and after rate, $XX in determined on benefit, million a being along expect being with the generated full bit P&L foresee more foresee audit. we savings a and previously impact million. effective cost tax $XX year to basis. over what on few Versus continue still in when included XXXX A of which

Finally when the We a which local in half. in hit was on the the currency included $X resin, of $XX $X April at year is picture outlook million sold year the full goods cost foresee of first since now million, full in hit worsened for million.

to evenly over and $X.X we're that, in than third through turn about million the was going guidance, a impact flow Grace? million should questions. with a April and in foreseen for quarter second fourth worse the for rest quarters. $X The of about year the And call the

Operator

have of coming question a we of Olivia Bank Tong line America Lynch. And sir. the Merrill of from Yes,

open. is line Your

Olivia Tong

whether how getting to grow force, to in business, sales to it's strategy hear the I'd and footprint? result changes compensation like through changes have investment before in – Great. do your that make the the better to your what this happen make worse Tricia, they understand to make make technology, Good you that? to changes don't your business incremental And how love And and ensure things on your to it looks business what make structure, to can great geographic your you morning. Thank you order have you. Thank was business the you and better? you. fast models, the view get you what

Patricia A. Stitzel

Thank morning, you. Olivia. Good

process, building So, it's going be to a time. over

course, place. execution The process teams we've years. in really the the three did and in re-engineering over begun. was the that along plan plans They're Part next five of we has really the our path Of revitalization Europe. are the our for implementation the communicated charted to plan with to

started down to five this that wait progress. we and years already we've won't see path have So, to

of that mentioned, with we're have with that already in starting so, happening the like some these rolling as now, the the And place, things we we're studios webshop to German see out. changes I already

over into factored things And and three out, are these so, we as plan the next course five it's of years. the roll but in those the to

Olivia Tong

would to sales despite about get pretty you organic then expect outlook fact that back similar QX's X% QX Thanks. it. Got on decline. flattish the results the suggest outlook, looks to your to And sales by QX

you lift inflection seems on can weighing is what are what Beauticontrol, like large drive, a that things going by the else of organic talk but sales be will about some clearly, now, to right QX? So, fairly to by then,

Patricia A. Stitzel

Yeah.

QX. QX that of have have Beauticontrol impact large fact, in we a in the then will in we largest still and So lapped impact

you disruptions will in of other some things through kind quarter course think step But terms through continuing second And, and of that of we of have the now the this we've active quarter see continue of impact sellers, the the that that, improved some step QX. first there. know seen better month-by-month during impacted the the active to engage again of that been so as thing reengaging So work these will of sellers the the and our for the some course process. have which I we a will by sellers

Olivia Tong

from and it's growth like a going still on China, you looks door then as expansions. China them, one being pretty of Got coming considerably forward clearly contribution, just it. obviously And nice it's but the about think leverage all slowed and

more X,XXX now? store you much which for how flattish have what right at comp count planned that growth that growth you think drive do now? So about can from And have I it's that seems you're do runway improved studio

Patricia A. Stitzel

Right.

was the what outlet, been member last that third of a in getting, QX and of growth all well issues shift see But, into but strong expansion product that, happened year also in KPIs the at mix was terms rate, we we the first and moves especially of those had of the as grow things in all productivity we also we didn't – and well. it So, all the some to promotional QX continuing quarter, strong that to continue that same total the the and there. see mentioned, and we especially boost get as

in data via side see really haven't regard know We done In leveraged addition, of to and runway still I lot with to you digital the of although, fully we go digital this it's think a well China. that. expansion business, left with

Olivia Tong

Got it. you. Thank

Patricia A. Stitzel

Thank you.

Operator

the line of And our from comes Citi. from Beth next Kite question

may You question. your ask

Beth N. Kite

Good any us Excellent. of help you magnitude from do you maybe that to other the on quarters Tricia, Can trucker of have the the investment to you and I first growth market. strike? market growth over of in Quickly, you just spoke that separate of returning in sort the think next think Brazil, from what recovering morning. couple

Patricia A. Stitzel

so, you. here – in know looking thank Yes, you Beth, active again, Brazil Hi, the reengage sellers. to we're

good in for really plan as again put We to have out operations. think a helping the of team normalize I Brazil, very that together a coming I strong they've said, and

speaking with in really struggled. area that an that We've implemented fact, we now we They we just talked quarter. been around the about good strategy and plan actually recruiting have cards the a credit a place, have them. that's new in were first In

recruiting So becomes more that And more But this that's draw about in new addition to and opportunity. been of a rolled us there economy that approach again And business out they're the opportunities. credit the love to entrepreneurial on as what is they overcome just help restrictions. focus focused a that really to some earning really our and business. also, there on of around worsens the I

do Brazil. we So, improvement sequential in see

Beth N. Kite

opening business strategy. then, on if some your commentary back Great, to And I go the thank of you. could

by you additional magnitude that us attention lot a just of so said my of Could understand change just do have many the far you growth rep. markets, the exciting think studio, to sort take of to how pretty the it to markets? that, me, was, sort which the you to was Something the caught hoping do of borne where them hard investment that, rates investment for certain studios sales certain sure, but when of it concept have understand pitch a you that to studios associated get you help of costs going and people tell sort dollars to is in there of that in have, commit do these the those

Patricia A. Stitzel

Okay.

to just So not incremental me clear that investment, be right. it's necessarily let

So have where traditional markets in more a of always had have we we model.

an in team a an and leaders Our places investment have in our always a make in leaders made some investment location even location.

unusual. that's looking branding, the to all the So, not visibility. is really first What that we're something do of is here consistent

better these, kind stocking consumers. footprint engaging say in size and been that located whereas, want really have locations locate I also reduce for facilities, the have We force, to would them, the We there and force. sales and the past and located these warehousing our for be for for facilities but sales better meeting of

our So, in had the so game, have leaders speak. always skin to

in the but So, changing is that location and just facility of dynamic necessarily what it's is not done incremental, changing. the is

leaders. you And not our something so, necessarily that's new that's for know

Beth N. Kite

Great.

Another quick Mike. one to

in from there executing as your Were Or million. share of to April was you mid-April resources last so months? $XX much we to couple any and had sort just ended the unexpected goal the repurchases went million to there of close, over – Just as $XXX a get hurdles reallocation now? couple up about early it of of the been months to

Michael S. Poteshman

wouldn't quarter. were half with guidance any reduced continue that were with profits FX. Like the that in flow the sense. the that I we our in hurdles said, cash of was with there And that about we No, cognizant we'll third say repurchases I being down, and

we're just the you And timing of the really. program so, managing know

Beth N. Kite

Great.

Okay, much. thanks so

Operator

Lane And our of from question the comes from Research. line next Lane Douglas

open. Your line is

Douglas M. Lane

good the or one-time XX.X% is new you're are everybody. going tax that Hi, this year a looking this of of year, kind that XX% Mike factors for morning there? there forward Excuse sustainable or sort only me. rate rate

Michael S. Poteshman

amount what think we Well, once how does for include going And to that then and return will rules than significant we'll what it to is, we for the ultimately structuring things of had both the the still and guilty terms rates. it's we a in around we work in bring do full in talked to do is do light were the about final somewhere year that that's effective in mid-XXs where though previously even less of the allow the so down, we us picture that think can that April.

Douglas M. Lane

from EPS you what And have your I any for been impacted second Okay. not the know million how number accretion that's number then don't outlook, secondly year made? in quarter your was given – a have buybacks do the you've $XX that of already stock future but, and EPS outlook full in the you made buyback you're

Michael S. Poteshman

or quarter $X.XX for $X.XX full the believe $X.XX. was year It was it the second and the I in

Douglas M. Lane

really crosscurrents second was in third before spillover Brazil, strike a And Okay, strike. that real the us the effect that's and least of and big in at the the market in disruption we transit a from transit our behind that can – quarter? then the quarter were lot put on in there's obviously there But no that there's helpful. anyway minds

Michael S. Poteshman

significant force real it's business mean the daily our chain effect. I sales the a sales rhythm of when impact the got impacts for Not force things know the and you one, additions, it

So...

Douglas M. Lane

Right...

Michael S. Poteshman

the our in much ...something sees there than management it, modest second is team it's than, but more quarter.

Douglas M. Lane

mean, you you the good – here, about talk of lastly, up, ground do Tricia, Okay, in see years? me know, is of – now here customer of about media, lot in that that social initiatives hear obviously, I strategically. where to how do a Can three did hitting talked makes let and you most your which running sense. orders order your back And most how then you maybe come

Patricia A. Stitzel

sales in customer of come – our some literally that's entry, order done some done place So, in and force them they'll sales via are most the our units, via and with orders. a of the orders to some via a to come distributor the meeting web business they – force,

that see but allow own So, would order web still wanting, a be credited a force. – also we to obviously, to consumer order entry, sales have to to would their enter

to from want administration we sales really that to what But business. is the member for it's do to so there. So, do, still just the in take her sales force away easier the force

progressing the in whether point contact, way or in see this so, be. the And at wherever that happen or orders the the could that's all would at of be studio, we party, that that a literally might

Douglas M. Lane

mobile being instance? like an way off moving have running So, for business phone, are – or you really a to from come towards developing app orders in devices, of whole your the

Patricia A. Stitzel

Yeah, exactly, exactly.

off an for big Mexico, developed because business our them. this in and Fuller they already sell takes a more app, example, we've burden So, really so one-to-one, for

as And so, we developed that be businesses well. app other specifically in to utilized

app, an market. emerging in well that that's works for So, example, an

right. that's absolutely, So,

Douglas M. Lane

Thanks. Okay.

Operator

comes line from from Investment. CSC Bronchick And of question our the next Jeff

now may ask You question. your

Jeffrey Bronchick

is Capital Los This Jeff Street Angeles. Bronchick Tricia. in you, Thank Cove from

get years people of that state not and able try the more the And a spend disrupting to of changes, quickly part is plan of with – talked online, I force making your on order – chain, But and basis? the to what agile, of the in without idea making to to clear century maybe XXst and you talk in your sort could over the be You that sort be it a when feet next people form? get any or ground. actually to understand strategic more it's in changes things what lot on you that's about the sales more they few adept, IT supply – new

Patricia A. Stitzel

Right.

Jeff. Thanks, Okay.

in of to already we've are our regard IT, systems, back-end capital front-end rolling with the and cost of and plan. the that we process included into So both out

we newer have on executing if is that capabilities the to that's right to on plan there capability, then in the and we're so, great. And supply market; and of the depending regard some with initiatives, now. the right, market, the that chain of And these

U.S. For to that. capability, cases logistic and We're Canada, in currently using have there. don't in But we're those the then some outsourcing capabilities, where that. third-party order in do example, we markets in we providers have they're

just that see we're and can continue market working through to so, would be. of And needs the the what

Jeffrey Bronchick

a say maybe a monitor excluding let's U.S., in sort customer's how you of at hands sense does and track to long or where mean, So, do on it a to carefully different think does get how at that maybe something and And long or that that's sort just region But the is, different and average of countries it? do receipt we by mean, the different order the look take timing order party, how case. I units? you I in And take? of it

Patricia A. Stitzel

Yeah.

So, it's is of that really we different businesses, this something in reduce. to and our look really each

we've in Canada been business, down. to this our U.S. So, able bring and

goes more somebody to are you're then, six that, to couldn't and party here. now who today, in between U.S. get want Canada from because party, somebody close business. We somebody have well, able And then at a don't remember days businesses, yet, to a I five you for and in orders and our party you host really know example, what, and other collect if to be it they that say,

away. that order right force is So, holding sales not open member and actually that that party placing

a delay is there so, And there.

because that of the to the consultant's representative us is process to the get but time the gets sit takes it we'll how may deliver actually back So, it and she to doesn't hour a right, order long the consumer, to takes not always it it. order an that deliver it for consultant, she home, at it

of, places to about order mobile as terms a is where week, visibility really she get what be more to have do we the get the we and consumer our everything process she ordering really, to do within able then cycle opposed this in to the we visibility more to online to a enter gets strive would much and order. when order, business when to can when have actually So weekly

for right now business a So, it's the bit units. little dispersed different

Jeffrey Bronchick

how people it area in, is judge I put me resources this the I put implemented saying, where your and is different where on my in, different in I'm working and should and is you Got to of like so attention the effectiveness countries, of But it's is the today, vision we question and say, is is own and last things, next this ergo, my or doing can understand how country taking or market And being you to see what reorganizing with is to and or here started two input reins, sort started, in to would is, XX this would starting me in businesses, months how people and it. of your as where we lots one say, not? like on so what what hard Like years this from back one it – point this putting the again, move saying, come where Tupperware. you I you we're lots and of you should region doing?

Patricia A. Stitzel

global Well, you truly are a portfolio. know, we

countries that's we and – our in XX So, I almost say and business. sell

our talk I growing in is of to unit, the clearly results results, and of I grow have in unit biggest entire be our there. businesses, growth again judged China If and opportunity terms growth the So, think know the our fastest our Asia, about of portfolio. lot I we is lot a that's But, of some by of growth have in Brazil still still to come. see that other you a bigger in we to also ability confidence opportunities,

really big our it back traction Ove going and have a also to good know, with markets the done grow can growth it leadership get can that I and have attractive. market, in by then some take U.S. I markets. in what substantially, proven and to have business, our that's Stein I'm of have reinvent we can that I we you expand we and encouraged get think there. continue Canada and take think, of European a also to room established really again those we opportunity confidence lot we and an established to businesses over

Jeffrey Bronchick

Thank you.

Operator

may time. question any Stitzel, have this continue. don't at Ms. you We

Patricia A. Stitzel

and thank your the call being Well, Tupperware Great. in continued you Brands. very much, on for interest everyone for

really I'm for a this revitalize Brands said, history. team, innovate about future execute about next Tupperware I new clear brand, growth future. position page to Tupperware strategy and turn excited our going together to As we're as focused in this we the the Brands and have wave of how leadership with very new and for to I the in

you your very Thank So, time much. Grace. We thank you, appreciate today.

Operator

Thank you. concludes That call. conference today's

Have disconnect. may a now You great day.

Tupperware Brands (TUPBQ) 25 Jul 182018 Q2 Earnings call transcript