ORLANDO, Fla., Oct. 19 (Reuters) - Tupperware Corp.(NYSE:TUP - news), a company made famous by its seal-tight plastic food containers, on Monday reported a third-quarter net loss, as weak international sales took the air out of its sales.
The loss of $6.5 million, or $0.11 per share, was a penny narrower than what analysts forecast, according to First Call Corp. In the same period a year earlier, Tupperware earned a modest profit of $3.4 million, or 6 cents per share.
But the consumer products company expected sales and earnings in the fourth quarter to drop between 20 and 25.
Tupperware on Sept. 21 warned investors it would report a loss due to weak sales in Europe, mainly in Germany and Latin America. In Germany, the company is still struggling to recruit sales people, a problem it discussed in the second quarter.
Excluding a positive foreign exchange impact, European sales declined 8.2 percent, with operating profit down 33.5 percent.
European sales on a reported basis dipped 6.7 percent, with operating profit down 30 percent.
Operating profit in its Asia Pacific region dropped a staggering 67.1 percent. And the company in Latin America sustained an operating loss of $6.7 million as productivity problems plagued its Brazilian and Argentine operations and the impact of the peso devaluation hurt results in Mexico.
But U.S. sales posted a 9.7 percent increase driven by a more productive sales force.