Tupperware Brands Corporation (NYSE:TUP) Q4 2014 Earnings Conference Call - Final Transcript
Jan 28, 2015 • 08:30 am ET
and sales versus it's CIS, Fuller Mexico, Middle Eastern markets in Tupperware South Africa.
There is much more granular information in our press release and Michael give a little bit more color on that later in the call. Before I get into some of our unit performances, I'd also like to mention that at our Board Meeting today, we declared a dividend of $0.68 per share, which is the same amount that we've been declaring since we raised it last January.
We'll turn now to slide four, our portfolio continues to diversify; we like that. This year, China became our ninth unit with over $100 million in annual sales; Brazil, which also moved up 43% this quarter and it stepped up to become our third unit, with sales north of 200 million, joining Indonesia and Fuller Mexico. Having more contributing components in our portfolio, generally, it leads to more consistent performance and that's something we will to continue to work for.
Looking at slide five, I'm going to quickly take you through some of specific unit performance, segmenting them really into three groups; the strong performers, those that showed improvement and finally laggards, where we still have work to do and we are a portfolio business units and with key performance indicators, we need to drive; starting with first thing, the size of the total sales force, the activity of our sellers and then thirdly, their productivity.
Let me get into first, our strong performers in Brazil; our largest unit in South America, again lad this and it became again being redundant, but over 200 million in annual sales. So it clearly was a star at 43% up. The increase was predominantly from higher volume with a limited contribution from pricing. We also had a -- to start the quarter, we had a record October and this led to momentum throughout the quarter and while these supply chain hiccups that we highlighted in Q3, they're not completely resolved. They are improving and as a result, cost came in lower than we expected, so that was good to see and we ended the quarter with a 20% sales force size advantage.
Turning now also to strong markets in Asia Pacific. We saw continued growth in China; now are 19 over 100 million in annual sales and our sales there were up 20%, driven by a combination of a net addition in these outlets and also increased productivity and as we've explained to many of you in the past, very small apartments in China, we use these neighborhood outlets and the improved productivity was really coming from more product demonstration, think party, the kind of cooking classes and also the sale of products at a higher price point, such as our nano water filtration system and unbelievably this thousand dollar product is such a hot seller in our China business and almost a third of our business in China relates to water.
The number of outlets there has grown to 4,700, which