Heat up the eggplant casserole... Leftover legend Tupperware just saw its first quarterly sales growth since 2017. Tupperware became the plastic empire it is today thanks to the sales prowess of Brownie Wise (perfect name), the entrepreneurial single mom who started "Tupperware Parties" in the 40s.
- Sales were up 14% last quarter. North America sales popped 42% thanks to XL-sized spaghetti nights and way too much meal prep.
- Profit quadrupled compared to the same quarter last year. Tup cut costs by $120M to boost its bottom line.
Tastes better two days later... Tupperware stock jumped 35% on the news, and is up over 2,000% since hitting an all-time low in March. Last quarter's earnings are the most exciting thing to happen to Tup since Cheesecake Factory delivery.
- More cooking at home = more leftovers. Sunday's family chicken roast is Monday and Tuesday's mid-Zoom lunch (hide it from the sibs in a fridge drawer).
- Tupperware’s sales people nimbly adopted digital tools to seize the remote opportunity. Think: online Tupperware party with 12K participants.
Time’s change, but brand staples last... Since Brownie was slinging Tupperware at parties 70 years ago, the core product hasn't changed much (still a plastic container). We have iPhones and self-driving cars now, but we're still packing rice in Tupperware. Other genericized trademarks that have stood the test of time: Vaseline, Kleenex, Band-Aid, and Clorox. Brand trust keeps them going.