Tupperware Brands (TUP) Tracking to High-End of Q3 Local Currency Sales Outlook

Tupperware Brands (NYSE: TUP) updated its third quarter 2015 sales outlook.

Rick Goings, Chairman and CEO commented, "While we, like many other global consumer products companies are navigating through a volatile external environment, particularly in the emerging markets+++, we are pleased that two months into the quarter we are tracking towards the high-end of our local currency sales outlook range for the third quarter as announced in July. We have seen the expected trend improvement in Indonesia, France and Italy, and strong growth in our businesses in Argentina, Brazil, China and Tupperware Mexico and South Africa in spite of the macros, which reflects the strength of our business model and skill of our local leadership."

Based on actual foreign exchange rates for July and August rates thereafter, the third quarter impact of changes in foreign exchange rates on the Company's 2015 earnings per share comparison with 2014 would be negative 26 cents per share. There was a negative 22 cent impact included in the guidance provided in July in the Company's second quarter 2015 earnings release.

The Company plans to release its third quarter 2015 earnings results on Tuesday, October 20, 2015.

+ Local currency changes are measured by comparing current year results with those of the prior year translated at the current year's foreign exchange rates.

++ See the September 1, 2015 foreign exchange impact update posted on the Company's website, http://ir.tupperwarebrands.com/financial-information/foreign-exchange-impact/default.aspx, which indicates an impact on the third quarter 2015 versus 2014 sales comparison of negative 18% versus negative 16% in the Company's second quarter earnings release in July 2015.

+++ The Company classifies Established Market Units as those operating in Western Europe, including Scandinavia, the United States, Canada, Australia and Japan and its remaining units as Emerging Market Units.

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