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Tupperware's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: TUP

The business in China and Malaysia, we’re also proud to see 20% plus growth in the quarter. China now we have 3600 of these, what we call demonstration outlets and that’s a 12% increase over last year.

I might note that this is the only business in our entire portfolio where we utilize these small kind of storefront outlets, which are owned and operated by the sales force and we do this because many of the apartments in China are simply too small for Tupperware parties, and so we’ve learned that these neighborhood locations were conveniently as both a meeting place a very real social site, and also it’s where the Tupperware parties happen, and we’re seeing consistent growth in that market.

Don’t forget about 40% of the world’s population lives in just these three countries, China, India and Indonesia, and so we’ve got a lot of runway left in this part of the -- in this part of the world. And when you see family formations, when you see growing middle class, our product line particularly in Tupperware is right in the sweet spot.

As I move to South America, our business here in Brazil and in Venezuela both grew over 40%. In Brazil, we saw a 30% increase in the sales force and we had 35% more sellers.

We did have some positive impact from higher prices, when we took a price increase here, but really the real growth in Brazil is driven by volume coming from this larger productive sales force.

Worth noting too, in South America, we opened our business in Colombia year ago and we’re really starting to see that business light up on the topline. And there’s 46 million people there, fairly primitive retail infrastructure and limited earnings opportunities for women.

And by the way, I think I mentioned, I spent an hour and a half with the U.S. ambassador in Bogotá there two months back, kidnappings are down 97%, tourism is way up. You’re going to hear more about Colombia across the Board going forward.

Read the rest of this transcript for free on seekingalpha.com

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