By Garvit Vyas, 09 May, 2023
The Tupperware shares fell almost 50 percent in April 2023 after the company’s warning which might go out of business. The maker of Tupperware containers said that there is substantial doubt regarding its ability to continue as a growing concern until it manages to raise enough assets to stay afloat.
According to the reports, the company’s management with financial advisors seeing at potential investors, cost-saving and downsizing to generate at the same tie preserve liquidity. It also adds, Tupperware has stepped on a journey to turn around the operations. Thus, “today marks a critical step in addressing capitals and liquidity position”, as mentioned by the CEO of Tupperware Brands.
Tupperware has been a great example since 1946 the way people store and preserve food. The airtight and durable containers made up from the plastic became a staple in all households around the world. The company operates as a direct selling one with multi marketing strategies under the independent consultants to sell products directly to all consumers through in-home demonstrations called “Tupperware parties”.
The survey says, Global sales of Tupperware has declined by more than 50 percent after it reached a peak at $2.67 billion in 2013. Reports say, the company also lost about $14 million on sales of $1.31 billion in 2022.
Garvit Vyas
Analyst
The most advanced graphic cards Nvidia’s are selling more than $40,000 on eBay, as demand rises for chips to train and deploy the artificial intelligence software. In March 2023, the company has announced several initiatives to broaden it reach in…
With rising market on the newly launched ChatGPT, there has been some rumours that Google has copied Microsoft-owned OpenAI’s ChatGPT to train its AI chatbot called Bard. However, Google denied the reports of doing anything like this kind.
According…
The United States economy adds up jobs quicker in March 2023. With this, the unemployment rate goes down to 3.5 percent. This signs persistent labor market closeness, which would witness the Federal Reserve raising interest rates again in May 2023.
…
Walt Disney is supposed to lay off thousands of more workers this week as it wants to slash 7000 jobs by the summer 2023. This marks second round of job cuts after a first round that began in March 2023.
Life expectancy has increased all around the world and the gap between highly developed countries and rest of the world is gradually diminishing day by day. There are multiple factors leading to the global progress with good access to sanitation,…