TUPPERWARE U.S RESULTS DECLINE
TUPPERWARE U.S RESULTS DECLINE DEERFIELD, Ill., June 5 /PRNewswire/ -- Premark International, Inc.
(NYSE: PMI) today announced that it expects second-quarter net income to be comparable to last year's second quarter, based on a disappointing May in its Tupperware U.S. business.
Following a loss in the first quarter, Tupperware U.S. sales are continuing to decline significantly and will result in a second-quarter loss in the United States. In the prior year, a first-quarter loss was followed by strong sales and segment profit in the second quarter. "We are particularly disappointed by Tupperware's U.S. performance because it detracts from the good results we continue to see in Tupperware's European and Pacific operations as well as the recovery underway in the Food Equipment Group's U.S. operations," said Warren L. Batts, chairman and chief executive officer. "While we are exploring a number of solutions, we have not yet found the key to turning the Tupperware U.S. business around." Premark International, Inc. is a $2.8 billion multinational company that markets premium products under leading brand names such as Tupperware, West Bend, Wilsonart, Hobart, Vulcan, Hartco, Precor and Florida Tile. Premark stock is listed on the New York, Pacific and London Stock Exchanges. -0- 6/5/92 /CONTACT: George Shafer of Premark International, 708-405-6252/ (PMI) CO: Premark International, Inc. ST: Illinois IN: HOU SU: ERP
AH -- NY045 -- 7492 06/05/92 13:45 EDT
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|Date:||Jun 5, 1992|
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