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Tupperware Brands Corp. CEO Miguel Fernandez announced Monday that Target is now selling its popular food storage containers.
Tupperware products can now be purchased at one of Target’s over 1,900 U.S. stores or through the retailer’s website. The move to start offering the “curated product selection” through Target comes amid the food storage container company’s ongoing effort to “reinvent” itself and sell through new channels, according to a LinkedIn post by Fernandez.
Target Shopping Cart (iStock / iStock)
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“Younger customers less familiar with direct sales will now find our brand in retail and from there can develop personalized relationships with our one-and-only sales force to find products tailored to their needs,” Fernandez wrote. “Customers who already love Tupperware parties – whether in-person or online – will now also be able to pick up their favorite essential food storage options at a store nearby.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TUP | TUPPERWARE BRANDS CORP. | 7.20 | +0.75 | +11.63% |
| TGT | TARGET CORP. | 157.04 | +5.30 | +3.49% |
The company has made other forays into retail in the U.S., launching “small scale efforts” with Amazon, HomeGoods and Bed Bath & Beyond in the second quarter of 2022, Fernandez said during Tupperware’s earnings call in August.
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Tupperware said its net income for the second quarter was $1.2 million. It reported quarterly net sales of $340.4 million, compared to $416.6 in the same period last year.
A shopping cart is seen in a Target store in the Brooklyn borough of New York, U.S., November 14, 2017. REUTERS/Brendan McDermid/File Photo (REUTERS/Brendan McDermid/File Photo / Reuters Photos)
Fernandez, in addition to announcing Tupperware’s expansion into Target, described a few upcoming strategies Tupperware intends to follow. The company plans to “work with additional retailers and partners,” launch more user-friendly digital tools for its sales force and continue “fine-tuning our product mix,” he said Monday.
