Shares of Tupperware Brands Corp. (NYSE:TUP) may drop Tuesday after the home-products company lowered its forecast for first-quarter earnings and sales amid the impact of U.S. tax reform and customer-service issues at its operations in Europe.
The stock declined 6.7% to US$44.00 in pre-market trading.
Sales to fall 2%
Tupperware now expects earnings per share of US$0.87 to US$0.92 versus US$1.01 to US$1.06 previously forecast, the company said in a statement yesterday after the market close.
Sales will probably fall 2%, or 3 points below the low end of the company’s previous guidance.