TUP - Earnings call transcript Q1 2019

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Operator

Good morning. My name is Tom and I will be your conference operator today. At this time, I would like to welcome everyone to the Tupperware Brands Corporation's First Quarter 2019 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. Instructions]. [Operator you. Thank like Garrard, now the over conference I President to of Jane Vice Investor to would turn Relations. Ma'am, you may begin your conference.

Jane Garrard

morning. Good you. Thank

As I our Relations. is Vice name and Vice Chief Tricia Tom prepared our and and President message Financial our said, the Sandra with our Officer Officer; I'm her Executive remarks, now Harris, statements. investor on Stitzel, including Along Jane the for to our President we've Chief here I'm call Garrard President. Investor slides first Executive the standard today site the forward-looking new Tricia over will turn with uploaded of my and quarter to results. on remarks

Tricia Stitzel

Jane, you, Thank good morning and everyone.

very Sandra just to Tupperware first earnings like our I'd already weeks addition First call to joined And in on team. her Brands. April a Xst. few a great proving she's to welcome be to us with Sandra

joins as a Sandra Now, developing VF and previous strategic executive impactful, of brings and quick retail initiatives company experience leading Corporation, well. VF financial, global a and organizations and at decades and she reminder, us globally from as manufacturing

pleased part team she's deliver Jane is three is of to us as have are with and today and and to weeks our Sandra the only introduce in the herself financial on the history. call. We going details into results very later her forecast also our here

first portfolio. performance high I'll providing to drive some some key view of some to are transformation of by our our our on level give foundation long-term. in color financial begin to then over that like the including beginning today the value Now markets on and I'd we color quarter's the initiatives rollout on the plan

history. many you XX-year moment is Tupperware's this important As an in of know,

growth to both advancing growth women. designed long-term, executing to achieve near are global a the inspire constantly our we that in mission can We ensure and strategy sustainable while

and does we're at strength consumer here Well grounded means deploying effectively. a organization extending Tupperware's sure of in new force our sales access, sales the earn. in drive are service tenants confident engagement, the in we consumers with Tupperware, really we to way, to deliver era We're streamline selling make for to and enhance engagement model greater markets, and We're and models that across in In strong what going shareholders. value by our is application? pipeline diverse and presence footprint, access. one for we to to Now which and continue products the and emerging this experiences. of entering products business to can that But mean geographic relationship it it that that relevant updating in a innovating relevance. we're and and a for easier efficiently it operating global technology connect sales make to innovative transform is our leverage business will and we're and social foundational iconic truly our expansive We're making force easier force connections and

to on doing on progress. with urgency it of our that and Now intent be value We we're this inherent working we we're and the work are much the sense delivering and focused there's company. know very done to special accelerating

were and QX local in that We BXB included Both sales. sales $XX sales to X% declined per sales earnings currency guidance. delivered and million now our $X.XX. quarter. from earnings of million for share results was last year versus $XXX within the first Turning the and

significantly our units from up China whom sequential double-digit Italy, are our comparison Indonesia, all single-digits to coming Extend report engine Germany, initiative We a in a the France, is of percentage for they and five sales sales of manager overall comparison recruiting basis. our point and pleased say and had sequential unit improved are heard of weekly me improvement you've who We because improvements. A since drive business most that the the Hand success our count on with managers December

to we connecting which $XXX mentioned. of Europe, the generated our sales revenue of $XX that million majority connecting a purpose and profit a geographic and us segments. of the included now partnerships BXB Turning BXB $XX brand In million leveraged We with of I million awareness France circles where largest for approach sales force just and product date consumers to the the to current in our have normal more with Carrefour of The potential new partnership sellers. of opportunity. demonstrating we allow to and freedom new the we is parties share our enhance store, also in us

has has improved engagement. been Carrefour France. our by the that has in awareness. brand sales media force with and force campaign see been addition, sales Asia-Pacific, currency generated grew included displaying X% of great and comparison year-over-year. by of year-over-year their well-received logo both us in partnership of local X% profit active billboards sales We to million. fourth Europe's million force a In quarter pleased our from through down sales percentage were sales increase The the consumers strong return points Also to sales core for a many XX to by with our In and $XXX $XX China's we X%. better growth

mitigating trends are to sales of represents total important efforts XX outlets the in the this down were to improvement These still number bring which it's Indonesia, platform we our outlets. this In but percentage declining experiencing. outlet currency point that been by sequential to We growing XX% an traffic X,XXX. note have our by the that while quarter of expansion local sales increasing X% back year-over-year successful number improvements supported is about to e-commerce driving continued our

important in program working competitive plan change Indonesia in effective early the that aimed level. the compelling And more an QX implementing market. at manager are is to compensation in We a are create we

America, North to and million profit $XX now $XXX was were Turning sales million.

feature decline well-prepared category and it in largely an in same force sales In campaign shift made be to of after by a was effort results with years many January, disappointed from received less in launched. and the which U.S. are But using the consumer. Canada we We approach. in the activity. well predictable product wasn't the the The stemmed a

a had and for start to recruiting. we both very the sales So slow year

also many rolled qualifications years. for been which revised increased incentives out had not in We

the through disappointing cause tactical the is results more So improve adjustments, nature good quarter. in as but and the came with that is we we news activity the

In are of and to which Now the both model we tightened studios scale uncertainty studio in Latin and Mexico more opportunity governments the will are in potential the the leadership in strategy with of increase operating confident the we include our levels and we number Brazil new a that spending. Canada consumer us format experiencing remain smaller led provide force to and U.S. around America, this in market. sales evolving our to

both Additionally, and were quarter. Mexico, in impacted Fuller by Tupperware last gasoline mentioned the we shortage

the on Mexico Field orders. it significant more of impacted mobility the Fuller who impact was Managers deliver the as business the However our

profit million. environment the of Our Brazil South consumer month. the American business just in that delivered force has spending an mentioned impacted I sales of makes during of that orders with member $X number $XX sales The operating million the

double-digit of orders advantage, a have number we the a smaller we given environment. site sales have force Although

we more recruiting on as the size. and We to order compensate for force to continuing sellers the focus growing declining size need are sales of the

to reach. have new lowered our promotional which we the Now in markets sellers of distributors expand process reduced qualifications more awards will the to new for order we areas size to minimum it's compensation underpenetrated deploying orders. not in Brazilian but the important the encourage to note and that have We're place of locations

quarter Now important strategy. as like some our I'd on to actions our provide go-forward transformation implement during we and accelerate an core specific of also of innovation initiative. our at the Driving took part it's you and the is information business we the

We X. won can here for are we've recent which design the of of products our several Slide proud see on awards you

products drive demand. We that to both on are are continuing to responsive focused and consumer innovative launch

we happening a Europe. example, in new U.S., and a carafe are in For and design. China just our the filter version isn't Canada, water Innovation of launching product Cold our Brew with in new QX,

raw as We suppliers material with through well. are innovation driving our collaboration

we with our new announced to a made plastic from we suppliers mixed one partnered As circular material waste. have yesterday, of introduce

second this well-fed. in NASA space. the launching continue We last help innovation with literally week launch also to is edge product will we work have our grow a of And space cutting our this very to plants in first in sustainable astronauts And quarter. allows our Tupperware global this keep that product us

we As part make consumers XXX for have of expanding studios access our on it now, XX meaning focused our our are force we efforts easier experience countries. Right sales connect, Studios. to approximately in to and extend

number the are of strategy. as new goal sales part with is a a studios our visibility of owners. brand increase and and Studios to our XXXX. by studio reach reminder, for consumers sellers provide studios go-forward ease And Our our to access and X,XXX our also of

units our We are improve making business our sales that experience. across force and progress consumer helps in deploying technology to

we and sales easily including media with members in quarter, channels communications efficiently rollout social and of communicate platform force is applications. to countries. a a multiple force This now platform XX marketing that the new allows completed email sales consumers other The across and

the Canada sales and in behalf delivering new XX% on launched which to a the of consistent sales XX% also in We force emails force personalized manager activation. recently U.S. increase is

this quarter. to program out France and in are rolling Germany We the second

XXXX which in awareness influencer we increased consumers. Brand leads new expect and the U.S. consumer the retargeting, and through process plan optimization, in leverage Canada. which elevate of Tupperware are of marketing, ad generate to will e-commerce launch to also We and the this a August engine search of site to of all new We in an website creating

business efforts are strategic their sales platform piloted through in sales roadmap focused the administrative our reach making can allows tutorials a the functions expand The be going with we sellers consumers will and our in to our feature social to And to of platform TupSocial This how to reach platform prospective will The the sales a active U.S. two of to Europe force media contributor called increasing sales for that social sites force project key effectiveness. is quarter on members no grow thus easier quarter. our it elements and on included transformation through logistics. minimal a individual third tool we expand with believe a in variety final TupSocial forward. and media. sell this efficiency the plans our the to force force new

model Continental implement Additionally, new to Europe. a into competitive structure operating will software a we are more currently which future the analysis standardized this global allow us support To quickly transition, Europe. as as we are and we chain implementing across business in solid move ensure processes to move and upper, conducting value we

developed projects have staffed detailed have project and We plan. a the for we team these

an metrics. We update will provide includes that and milestones next quarter

changes impactful make firing accelerate and we're to to Now all global cylinders across the value. our on transformation organization create

We results. detail me over with that early we're seeing. some the signs that, on are With to of the Sandra our call progress pleased turn additional let now for

Sandra Harris

Thanks, and everyone. morning good Tricia,

thrilled First, start to the running, let rest hit we the alongside working by important at the how the management company's great to me and the team, this I'm diligently company is Tupperware evolution. Tricia, ground It sharing in to transform as enhance time to join of work team the performance.

sequential showed comparison. were in other but of results. year. include I down highlighted her X% sales Turning fourth sales than fourth specifics quarter year-over-year QX line percentage BXB units improvement which sales drill on for in five was the did down by within X.X and key the percentage with Sales already from quarter performance $XX.X quarter down around first were will profit. and points local Core points discussion. in down sales guidance segment now our from the currency last now Tricia improvement sequential range. a some Sales comparison more X% to in in million the our

more and Canada. price decreases from a volume the Fuller the three contributed by two between came was to U.S. to Looking minimally in sales points. at The decrease Mexico, price and from Brazil, volume offset and volume quarter, largest and than Indonesia,

force. work talked from down to correlated while highly same Total sales to aware size partnerships, ways expand sales into about was need force down leveraging active and X% earlier. technology Tupperware year. growing BXB X%, continue very with force size Sales Tricia are get and of volume active size products of consumers hands through sales to sales the on of the average our the quarter force is was to studios, continuing the as expanding last size, We total deploying average the

seeing end positive however was sales the are of X%. trends up and active sales force in fourth their quarter We Europe's from force up X% Europe. average the was total

quarter the could profit price impacting components specific increases. through margin down from was XX% due Gross some that to quarter. in year discuss inflationary during cost markets will not be I the some last XX Now in offset points basis mainly

items in than that be lower administrative Brazil. stated call, in selling As were local to to update our even XXXX. Canada, is in at year XXXX currency. we was low-end; quarter XX.X% by lower The is currency on gross to actual quarter first about expenses. higher point our higher unallocated and for pre-tax Distribution, points XX in expected those basis on resin sales it at predominantly last expenses U.S., volume than slightly sales of margins better and partially the XX.X% a return due forecasted the percentage last volumes, local and on excluding slightly XX shortfall came offset from lower lower at XX.X% distribution as basis was

in from earnings within contributed is than accounting, were the in while local by in guidance per from related $X.XX lower contributed year, unallocated $X.XX a share expenses. quarter, partially per lower $X.XX to lower These the currency. operations Compared at last The volume the reduction in $X.XX. each hedge tax in came share per guilty offset rate by the lower to higher our offset sales share shares range. XXXX $X.XX earnings change Our

the Regarding $XX the Cash than from of was year's cash quarter. flow net was outflow for last of an worse which activities million operating $X activities for flow quarter. first million investing quarter

we $XXX flow million. $XXX For foresee XXXX, full-year million cash to of

the Turning outlook. now to

quarter one core Our versus currency in second X% reflecting expected quarter sales. first will in point to to the down X% flat year. three BXB improvement to sales prior in the the be sales local a are with be

at remains to sales year. outlook core full-year X% we believe flat Our will throughout improve down as the trends

rhythm sales sales business traction improve new and first management. stabilization improve of size gain the We comparisons marketing to fourth continued standards, its expect the business, the will We and the in capitalize its compensation Indonesia, U.S. force and expected believe year-over-year began quarter due In Canada consistent Europe in Brazil to advantage. to is will the execution plan quarter. by and on the

$X.XX items guidance earnings For due to is $X.XX and the full-year, foreign the per we since worse currency outlook to gave $X.XX in range share is January. down without

XXXX. previously reported narrowed $X.XX is $X.XX compares guidance. were additional This the is high-end the top-end we by that with $X.XX we've by at the range range in impact an the $X.XX amount of our year's local in under currency range the in Additionally, FX our quarter. which the in This this first we less

we we in the release, make repurchases the As did not stated share during press any quarter.

of have repurchases We but continue million to opportunistic $XXX year keep in this open XXXX included in the outlook. not EPS possibility our repurchases

course $XX Finally, you business agreement prior XXXX. this $XXX to mature Second which runs completed agreement may years the credit of increase X-K our ordinary in provides The five have mid-XXXX. we've We seen Amendment in initiated capacity set a our that in of the was in into million agreement. amended to and as million an is recent for

to of a term prior the loosened which the turn requirement ratio And conditions SEC more the was and call that, April that from described X. X, XXXX. and half similar with X.XX are terms in largely in are X-K filed detail consolidated we to with leverage Other questions. on for Our over we'll the agreement to X.XX

Operator

Thank you. [Operator Instructions].

Our line the Tong comes question from of Bank America. from of first Olivia

open. now is line Your

Olivia Tong

a just couple Good of various I can regions. morning, too. the countries, guess Sandra on with and I thank start you welcome questions

but to give more you're you You mentioned terms change color if color your in the a a what seem on the give little what's you. happening First, be if there bit don't would think start start U.S. any worsening, of Thank it could be great. you the in to things? more tough seasonality I obviously to bit could declines to to U.S. a business just there's because little doing year. the

Tricia Stitzel

call. Thank happy Olivia. on Hi, that. to is I'd the you for Tricia. This be yes, being And do

new quickly a do we be were difficult looking the we've predictable leadership want the for time in They're the some from signs same a we force, same either good said, sometimes to many the in things at and off a them don't And way too we this to although approaches there run it period with they So were were And expecting the business, is promotional expected were Canada had didn't resonate promotional newness hurt and to different. sales too essentially to team with the and as for and and there. just as it have results February they on same U.S. promotion in they and have result, you a can't the with working we that so And they campaign which change the you a category, same fell differently. then, that some engage recruiting consumers, fell some as the well. the short. disappointed short early with start. in big something things years January product, us didn't really really but we executed I

that the mitigate with as in then, levels some the back. so approach well, through so did activity we of up quarter -- came in overcame of that coming we came as quarter we activity saw quarter. the the lower and short of with and changed later that We And the the some

order level. technology in a lot of encouraging going that make lot in lot the my in and activity the on comments U.S. the a tell heighten engagement have heard about to -- in the things in We we're using really are a me that you've the you U.S.

we good say results we're piloted force talked growth by and and seeing there we're the encouraged the those. just about I some And really I addition with business. things more the that signs, of In with to what would fundamentals do we size the there early sales

that was it it issue, a business more tactical related. of the thing kind marketing is in So was the U.S.

And problem challenging there see so the forward really we with don't or the things really to going model a more change. any

forward can there. mitigate a So we move positive and way think we in this

Olivia Tong

the Got the it. there. corner go. And there then little and give lessened touch bit you more you obviously that turning you the or BXB year, or And of you're obviously to feel sales, QX remind talking Thanks. on reminding us sort mind QX would a is Do just still still comps Thanks. businesses, us perhaps then the if if great. on color the you for pretty remainder you the comps about with is -- the QX in be contribution you're it if for clients the Indonesia could could appreciate core of it pretty wouldn't like

Tricia Stitzel

Okay.

So I'll to on begin Sandra then for the it comments with Indonesia. comments. the I'll And BXB turn over

we were we're -- trying ourselves Indonesia, still the XX, for too not So much Indonesia. down be so on back too to pat about

it especially seen last is what a quarters. over after had year sequential good and However we their several improvement

be Now have this. we structure; qualification on made things. incentive been just few a the as very reminder, would to in a used key we what Indonesia regimented We changes we did how on working to be

on we're to you be And that seems and not now running one, the that they a thing. the to month And another do So what we whole months and do to doing. freedom so thing, so to that said had it well way received. that in prescribed week do for in qualifications we're been is and they certain want we in but had that the we've the few have same a week have two you keep things you strict the

more get react. didn't month it flow of we to to the starting they're Originally, know the they how that. into So quite did first

some had so And with levels. we activity issues

and on new into good a thing. of again consultants introduced also groove both more starting good seems the numbers they're managers those early good to a And these to good they're a huge We've getting then, make early impact. and be programs they and compensation overall Now managers by to encouraged manager retain with and Not we're impact our but period a excited start, We're the it onboarding for QX. early results. this working finally, results. to and both by consultants to well and that we've -- good off some a started very engaged and time. discussions them about as you the seem in change think And keep distributors plan and going of longer early change it's have get already for

the compensation and to something Now a better them getting speed plan understanding saying have that a you to always changes is getting to challenging and even place always up bit going work if through. are that you're just through

to So, yes, go we force improve we're did by We still over the sales in size ways the in Indonesia results by QX. but the points gap two encouraged have a there.

again important thing force enclosing gap sales sales. is progress really size includes which steady to So the higher that level all

Sandra Harris

were in regards flat QX, And, X% the Olivia, X% BXB question, this to X% QX, expected another to we in be QX, is in QX. Sandra. down and In in down

Olivia Tong

it whether different how those levels Sandra. think about you you, targets it. your intend I Thanks, the Appreciate chance of been shareholders of share about only wasn't quarter company's terms in company. a But since how you those then have as know the And for repurchase And three company. you there any buckets? the priority of some any own know for the to in at joined order but how return assessment, I repurchase share to feel a you weeks it's of do cash dividend, be to you just sort early lastly look views on do you had

Sandra Harris

say Yes, so Tupperware team. thanks, of excited again part be truly that to Olivia. I'm the I'll

think the right. is timing I

encouraged As the Tupperware by actually guidance and we're the XX improvements launches this the years that transformation after transitioning with I'm quarter initiative sequential my first and for seeing.

in a show invested consumer-focused is and do driven we're focusing transform purpose I flow the purpose momentum brands questions I more and global gives capital combined want brand worked here return regard on, to going positive increasing able that also improvements. believe be plan we'll strong have these and fundamentally years In to driven company Tupperware with think focusing the shareholder Tupperware. on I revenue, last in to and believe return that the for to confidence value. margin we I'm people transformation. and what XX us focus growth, I've priorities a transformation through by a on cash shareholder to this. help working on Tupperware drive that

drove As today, to more By capital numbers, studios. and ways the through through on identifying margins story do by working more and operating related that reduction innovative telling and experiences globally products, we by improve Tricia with the And supply work previous more consumer leveraged have with basis extensive to an VF. discussed efficiently. specifically I chain my team where can I technology, working previously initiative improved inventory of digital this I'll capital spend the and XXX through effectively margins I experience points. also the achieved CFO day as in a role for XX

at that believe here I fundamentally continue Tupperware can experiences apply to drive value. I can and shareholder So those

Specifically we we've as those will of in potential your and previously on to have stated up at buybacks, to to question $XXX that. the million look opportunistically response do

Operator

And the Camma of our Sidoti. next question Frank from line comes from

open. now is line Your

Frank Camma

the Good morning. taking question. for Thanks

Tricia Stitzel

Frank. Good morning,

Frank Camma

Can if give us; you studios out to update the would by you Can some of et you get the what have there, of centers any get in numbers happen you I X,XXX improvements of those just on what a frame sales for kind keep data you of them. goal know just question us XXXX? XXX themselves. First cetera? Just around

Tricia Stitzel

exclude see just obviously -- trends now from what really XXX in tell Sure, numbers. you excluding Frank. overall we terms is and have. China that Well we're I this the can We across those we of is what all

studios, those the overall we performance do leaders double-digits in these the the we studio. studio at of those in what numbers see when is are than in better And not who so look that

these have of And so in again early it's high the level for we them. And it's a XXX process number, things. very

plays what that that we those good. to year-over-year would see But as So early have happens say how I numbers that are well. signs year-over-year on Also to out. based

Frank Camma

on margins on And well. spend to of of couple last on has probably thing here if of important the but as the grow a which been so over where I costs a years investor lot Can think not -- time as sort showing the yet, you of obviously efforts most closing where lot money through talk -- sales, is we looking see obviously future on we up as spent in you cost where reducing Okay. far an mean that that reducing about the of initiatives that, DS&A? we but come into I should the -- down of at you've do as those model factories be savings? the do going guess not we be I products and where those past should sold things where restructuring done like

Sandra Harris

This Yes, that so is I'll one, Sandra. take Frank.

amount planned $XX As savings that you that finishing the costs XXXX from have and we're offsetting had And but locations, of deliver came about like Brazil, benefit we ran earlier plan that plants we on last million process of that and expected that France and year. the that higher we that come about I we revitalization in issues that our fruition, promotional was as guidance the XXXX. was seeing as of know, $XX there we relation in level, the finished to that plan in the was closure did of to to million yes, operating program with annualized spent which spoke higher provided. some other the through in our those through, earlier, is Unfortunately volume, seen than

As you And about we're talk its is expect shared, upon transformation next more willing we initiative as to know, stages, and that in which the do we're we that embarking Tricia early quarter. expected drive things sales will growth through important also million here more of it's process. that see as to $XX to that transformation the is And related project. annualized go about that we benefits

Frank Camma

Very good.

what example the who pretty quarter the think Okay. for meaningful a incrementally, in why The that works since with relationship Target last I Carrefour is it just BXB was something did this ago, similar years right in thing you the was on better like U.S. than

work and rather would speak it maybe does say U.S. with that than in Can why Target. a place I in like the why So work Europe doesn't you to that?

Tricia Stitzel

can. I

So it's on we were doing the it. structure different way a completely

through we the sale Target direct company. put Target we that So way product did sold Target in for on shelves is actually the the it from in

selling I -- that's to that Target profound a go Target. go I retail can like had just independent and our an sellers felt were on So to because That to via impact we independent need seller; people essentially buy it. don't

so that And it the we process, seller who in BXB way is include when the in sales independent we we do our the store. do is

Now with step great is the further. gone have about of we that things doing also collaboration the a we -- we're that one Carrefour

demonstrate. negotiated sellers is what we So in things I us let independent with time us sometimes would be Carrefour store. with to this would by store have freedom the typically in more that independent they that but our they mean And do BXB, they the in them the our sellers allow only

they date yes, would to find to the sellers demonstrate opportunity welcome would onto able product also new share teams. the their consumers, they new parties, and So, also be but

are And circles homes. new so sellers sellers. in communities a fantastic are reach the that And their these independent to of them to impact has and on that helping close consumers

have The billboards. included billboards media other all ensure they campaign, is our over is our did on many And their was logo that logo so Carrefour many, thing that we to in France. those with

to really it's they to oh that a and to really what and a have may negative offering it really sense a and of force, loud so us, happened lingering been pride, them. Tupperware, of see It people they us confidence lot sentiment encouragement just overcome lot of to are clear. helped that thinking sales some And of our gave

So dynamic it -- the to business which in completely situation structured France we've Carrefour. detrimental way the the and with from different was which we Target

Frank Camma

rep or a customer a because when buys to that does Carrefour work? sell the it Carrefour, though So independent cut get that's does that do you a there how of right

Tricia Stitzel

they're Carrefour, sale directly that purchasing of the because product. Not

certainly feed, of benefit our the We support However, portion use of sales different can that to through want We with people we always kinds it materials they in those share want because then in or a to promotions, that. samples marketing. their do them of incentives.

to and and bounce have They remainder the them case to the bounce able welcome of a party. the would coupon well, Carrefour coupon the would example when would back put get you So in to the party, into the -- back then to set. come as a product we party be might of the this to you for

to point important we're clear I more not It's that is of make think in really another selling a that program. product. the sure fidelity is differentiation I want Carrefour,

So just to up. clear that

or buy will So food they those points, Carrefour points, they consumers buy earn at they with can use amount to of the buy and have product. whatever the

Operator

Our from comes of Citi. next from question Beth the line Kite

Your line now is open.

Beth Kite

ask point the did. benefits to-date? a do this it go you focus can quarters of after on couple more had BXB just you or quarter your you've one think had like with certainly the might another this question of invest of that. last from Where at you I and first you this a then might a Right, sort year are to maintaining seems component to sort of to and business in you greater extent just effort try as kind it, scale that of If

Tricia Stitzel

done weeks BXB and What we're on right. when Carrefour what we about the four formula is much and and feel it and thoughtful brand doesn't how with in we depending to it we this the works we BXB really the can core. the that frankly the it did. that only is we with we sometimes it well in we about I we're sure it do say core it truly that now that structure So past, impact. Carrefour, least feeds sometimes And builds how we've at it has do feeding want really it, have mean make

make not the one about it feeling hurts so long it to now are we're oh Tupperware that and but time the about want can. want we don't thoughtful it's because get sure but going those take we because negatively we we like to overdo it take don't mindset we as think care important retail look at would and Target impacts it them and to we or is do I If that does continue to as we these things two at So have we -- independent too that. in strongly consumers it it this forward, as that that seller things better

Beth Kite

great. enough, Fair

I now If concept, the why right do in Turning that you're of smaller format I prepared hear studios. you and maybe footprint were the to to in with are correctly forward those you here the that I Can trying that geographical move think, remarks of it's I now of you sort currently in you number us kind did for can U.S. heard a at of think related some studio in just think breakdown formula you there the right studios a the South that I guess them. are And Korea. that portfolio? give XXX the said

Tricia Stitzel

start studios. and U.S. with smaller me the the let So

went to million And had an -- top out a first that really for to we business least be leaders. was this, launched of we this have we our requirements. and is certainly at had other they and when they opportunity the requirements said one dollar So

reception that. good we so And had for

were We leaders in who have interested it. many

And XX of have I'm U.S. now. good U.S. organization of also in We and a those business business, there's million business. have deeper in you Canada the we were had the reception, And dollar people in organizations, many of saying who because so the those about only interested.

to to set up that we make So we win. sure want them

to is, a go doesn't we that and this. that somebody organization want have in So don't revenue the who has fuel will tiny

and did we it's what China markets a have job. at smaller in actually square And and demonstration like space but think footprint. XX consolidate we've can Korea could we And do it great X,XXX this. like square where you take order we with to go China, don't feet So to learned from a or and we demonstrate a something you meters in I a said in say that need it's really look

level we this open we in the point and a Director at we entry could And said lower broader at Director so have let's up it then thing let's and that. to level, audience participate and could have and scale it the that down a so

and to and So expand that's with U.S. us Canada. presence and throughout will have that we're visibility access what help just and exactly doing the that we physical help

we I so regard you of I'm country. the gave They're of with breakdown, our really get details of that, XX% that. in sure to single I'll market outside largest of to the number would say studios. be Korea every of not that roughly want the So into geographic about terms Canada that U.S. and

Beth Kite

you. Are One outlet kind a you'd again baked first was was you quarter quarter your model? on I say maybe quick XXXX. in point to is into I nice see share your Thank the trying able or of growth to range, a think and the some in resume I fourth this multi-year that had China guidance China, questions. of to on XXXX after Two growth of guess Great, slight at in it outlet, even what see great. to decline.

Tricia Stitzel

strong we we I'm over Yes, in kind you we of that get said we've Beth seen particular detail XX,XXX. to any that not sure that But get feel outlets. growth know time to in the is have What we on that can country.

continues that so -- X,XXX, so get I feel have can I good to XX,XXX with say. And we would room guess, for we we growth,

Beth Kite

enough. real and Fair last quickly And on one guidance.

growth guidance half? sales, implies results three one, XQ I to the that second in or and for that something second points the range. the for innovation, your or the Are you confidence of quarter, countries, Given a acceleration full-year there of you XXXX items either second get guide good gives think that of in really BXB it two, half pretty to

Tricia Stitzel

want this commented a Yes, add on don't to I'll Sandra I comment few not. things. know Sandra to you if key But and or

by more new a positive seen we Europe. that also have in the of but plan So in -- this standards in impact we've the terms what of impact compensation the we're seen consistent encouraged the that Indonesia in that in been us stabilization we've as and unit the at for Indonesia. competitive challenge the engine of market. manager level more we're there That's really are be that managers and and business that in to that's putting unit I've said aimed a that's Also

tightened that we'll that was positive also us the can to that the as And sales Brazil consumer double-digit the and can our QX good that we there. things I advantage manager well. market switch continued we to mix, for see price more spending, to we really -- in path. engine, recruiting on points restart there able start product in good I up that but with unit continues mean a feel challenge be back again order with we we're feel if size even force So merchandising a Brazil, think in really

So would all us are half. the confidence about give those that second things say I

Beth Kite

me. you well, Thank all so Wonderful. much, pardon

Sandra Harris

and That's talked fourth. in we the what the okay. that improvement to about second quarter continuing third through add expect seeing in was and the I on we the going just is core the

Tricia to And we core. to to of expected three So expect upon we just that the continue that discussed. QX for that initiatives based related trend points one improvement

Operator

[Operator Instructions].

Lane comes from from of Doug next Our question Research. line the Lane

Your open. is now line

Doug Lane

thanks. are And to force trends active grown the in like and over it quarter on hi sales three weak. you Yes, it Good the ago in if years morning I'd levels XX% look Tricia, years. have haven't focus force, really everybody. below sales from any about there been five at in

force getting grow again? focusing active doing you the are what to on sales So

Tricia Stitzel

focused, making the engagement we’re force. we on have So that Doug, sure really of sales

and you the we if well, process that on talked is recruiting of with we've But the things many in the that will. first with making and about numbers. we're step talk the that positive worked some in team all impact engagement. rhythm about of fundamentals, have we've of quarter that Europe always the that of better seeing So moving that sure level engine things that we gave some of the the more talked of that have first and those things first and with a Sandra about we in the that you business during the

where year-over-year. that they a up five also the there of important programs comes sequential an she's and or active those talk we kinds So and seller we that our our new Manager force also the And then size sales in team really that. onboarding a were of but that force in fundamentals part was ensure the about effective. with the to over regard new many that of -- things business are rhythm one That's the point improvement improvement saw in so sales to of QX a

these needs. have training from results she week to programs come good that that gets these programs. We ensure that in And the seen we've systemized XX she

last we're like consultant program good have in It's program we've to are the up results But rolled countries the would -- getting guess we it seen that Africa is doing also and role that I good still are so I results Manager Now say. South they speed. engage doesn't year. out in from CIS. And CIS on execute that all all things that meeting. those. someone making the that know this because are very is doing at then today sure to that a happen. is face-to-face around or often But technology this way we we the supplement addition doing to well best in we're the

of using a are platform that And a every and do in we just each week, social the I platform. media top media It about way be email rolling we're social such and that day we're allows that this with leaders so and people every each making sure simpler talked can way. our this mind in that to out automated and

force. we do So typing on a email an every series especially welcome single rather we to behalf have the the than emails that sales program, person during onboarding of of

the Sandra we behalf sending we're Sandra but on Tupperware. and So to them say, leader out is welcome Jane of

Here's what week. this doing you should be

across these engage that important platforms gets single are hour of day every facilitating can all And and and so people us. email these to is every on his every she she day, communications

a I pay, So sorry on and on. go little

Doug Lane

And will be No, you in for sales number that’s half second in the year? the helpful. force positive drive you active I optimism think of year. the mean that the going do enough Brazil, to mentioned this your on a half in changes of second

Tricia Stitzel

I That's things QX rolling a that the we're And what these U.S. lot we piloted in certainly. in good like we're out working to do results. rolling with said we're out, of

out we're now them putting for of there so just kind everyone. And

we -- those. on to be an rollout So have aggressive hope

Doug Lane

plan. I plan? you Can or compensation I in changes you are making a elaborate make looking compensation to mention the what lastly And on are heard the you change Okay. think in just

Tricia Stitzel

is on a levels to that managers we're what in working organization. deeper deeper So that and do are see other that wider in on organization Indonesia and Indonesia Indonesia certain into and companies -- essentially a is was paid in of deep are paying number specifically what we their

reporting teams to also rather to want focusing the our just managers to on at engage teams all deep that with really So and levels. her they we unit start offer that and for than few can both those build people them build to a opportunity that are wide and

note we So that that's value again that be to us. in it's the a hold. chain reallocating keep, we're that's important important that, saying not so going we're stay that on But we is what do to order to hit to

Operator

our concludes Tricia that And for Stitzel like would question-and-answer session. call turn to the over I closing to remarks.

Tricia Stitzel

everyone you being for Well, call you. thank Thank on the today.

XXXX Appreciate We sequential Let much KPI this look in throughout you make our business will our we in confident both And update the me and just enhanced We improvements value. that that as we're sales we is you progress. promising continuing to are drive sign efforts conclude transformation there telling units the that by for shareholder improvement to saw and our company all be everyone. Thank are your your stock. in continue sales a thank out interest our in do laying we to strong this that beyond. you quarter Well you work and forward to foundation see our to done. that we we time. and for believe recognize we

Operator

concludes Thank today's you And participation. this conference call. for your

disconnect. now may You

Tupperware Brands (TUPBQ) 24 Apr 192019 Q1 Earnings call transcript