Tupperware lowers first-quarter earnings guidance

Tupperware Brands Corp. TUP, -0.38%lowered its first quarter earnings and sales guidance late Monday. The company said it expects revenue to sink 2%, which is 3% lower than the low end of its previous guidance, and expects earnings of 87 cents to 92 cents a share, down from $1.01 to $1.06 a share. Tupperware stock is down nearly 5% after hours and closed down less than 1% to $47.

16 in the regular session. Tupperware said it will give a more complete update to its guidance when it releases earnings April 25 before the bell. Among other factors for the lower guidance, Tupperware cited a 6 cent per share impact from U.S. tax reform and customer service issues in Europe. Tupperware stock has fallen 25% this year, as the S&P 500 index SPX, +0.33%has dropped 2.6%.