Tupperware Brands (NYSE:TUP) stock logged market-thumping gains through the first half 2017, according to data provided by S&P Global Market Intelligence. Shares were up nearly 30% by the end of June compared to a 7% uptick in the broader market.
The rally came after the social-sales-marketing specialist announced surprisingly strong first-quarter results. In late April, Tupperware revealed that sales improved 6% to beat the high end of management's guidance range by 3 percentage points. Emerging markets played a key role in that growth, as Brazil sales soared 24%, China rose 38%, and Mexico expanded by 15%. Tupperware's U.S. business also posted healthy 14% top-line growth .
Profits also came in ahead of targets, as operating income expanded to $76 million from $70 million a year ago. "Solid execution of direct selling fundamentals, along with innovative digital strategies across the portfolio," CEO Rick Goings said in a press release, "allowed more of our businesses to leverage our strong aspirational brand and provide an earnings opportunity that builds confidence in the 3.2 million women of our global sales force."
Improving operating trends, powered, in part, by Tupperware's spiking sales-force base, convinced Goings and his team to raise their full-year outlook on both the top and bottom lines. Executives are now targeting revenue growth of as much as 5% in 2017 as earnings range from between $4.35 per share and $4.45 per share compared to $4.41 per share in the prior year.