CEO Q&A: Tupperware's Goings Talks Turkey

When most people think Tupperware(TUP Quote), they likely conjure images of a 1950's suburban kitchen, with perfectly manicured pot-roasts in hermetically sealed tubs.

But today's Tupperware is far more than your grandma's plastic food-storage containers. The company now boasts a portfolio of eight brands that include beauty and natural care products from Avroy Shlain, BeautiControl, Fuller, NaturCare, Nutrimetics and Nuvo.

And while the company reported a difficult first quarter, as profit fell 20% to $25.6 million, or 41 cents a share, management raised its second quarter and full-year outlook. Tupperware now expects second-quarter earnings of 62 cents, up from 57 cents, and full-year earnings of $2.26 from $2.16.

And even though its first-quarter sales dropped 15% to $462.8 million -- hurt by its North America beauty business and soft sales in Europe -- the company saw double-digit growth in its Indonesia, Brazil and Venezuela Tupperware business.

Against this backdrop -- and with Tupperware set to report its second-quarter results after the market close on Wednesday -- CEO Rick Goings sat down with TheStreet to discuss just how this 63-year-old company has been able to maintain its edge.

TSC: What can investors expect for the second quarter and remainder of the year?

GOINGS: We have always said that if we are going to miss our numbers we would preannounce, which is code for we are going to be in the range of what we said. We are less bad in a time like this. Last year we saw top line growth of 8%; this year will be between 2% and 5%. Women's fragrance and skin-care products are viewed as necessities, and [our customer] is committed to them.

How has Tupperware managed to stay relevant and competitive during the recession?

Our business model is very flexible. We can adjust the lever of what products we are selling, what the theme of our parties or selling brochures are, and if consumer spending is lower, we can recruit a bigger sales force. So those three levers give us a lot of opportunity to navigate through challenging economic times.