Tupperware Manufacturers Company reported web gross sales of $313.7 million within the fourth quarter of 2022, a lower of 20% 12 months over 12 months. Gross revenue throughout the quarter was $196.5 million, with loss from operations reaching $35.2 million. Adjusted EBITDA throughout this quarter was $24.4 million. 

For the total 12 months 2022, Tupperware web gross sales had been $1.3 billion, an 18% lower from 2021 web gross sales, with a gross revenue of $836.4 million. Adjusted EBITDA for the 12 months was $124 million. 

“Twenty twenty-two was a real check of our resolve to show round this firm and increase shopper entry to our iconic model in markets all all over the world,” stated Miguel Fernandez, Tupperware Manufacturers President and Chief Government Officer. “We entered the 12 months optimistic about our progress in enhancing our enterprise economics and executing on our progress plans. Occasions didn’t unfold in our favor, so we reacted shortly to the challenges. Importantly, we remained unwavering in our pursuit of constructing a broader Tupperware ecosystem during which to achieve shoppers desperate to work together with our merchandise. Within the US, our first main retail growth effort exceeded our expectations. We have now now pivoted in the direction of a brand new post-pandemic section the place we consider our core direct promoting enterprise will profit from the return to in-person occasions, specializing in recruiting and coaching our subsequent era of enterprise builders, and the place these markets using our studio mannequin, notably China, are in a position to profit from extra shopper visitors.” 

The corporate ended the 12 months with $705.4 million in debt, a slight enchancment from $709.4 million on the finish of 2021. The corporate additionally entered right into a Third Modification of its Credit score Settlement which can enable for extra aid and monetary flexibility.