It’s been a long time since Tupperware had something to party about.

What’s happening: The food storage product seller — known for Tupperware parties held by thousands of direct sellers — revealed a slew of problems earlier this week, leading investors to lose confidence in its turnaround plan.

Why it matters: The company’s numerous challenges revolve around its over-commitment to direct sales long after big-box stores and digital retail took off, illustrating the risks in not adapting fast enough to a new business model.

What’s next: Tupperware is trying to break out of its box.

What they’re saying: “In the digital age, after multiple years of sales declines, it became clear we needed to evolve to offer consumers ways to reach our products in the ways they choose to shop,” Tupperware's Klaus said in an email.

Yes, but: It could get worse before it gets better.

What we’re watching: How quickly Tupperware can transition away from its reliance on old-fashioned sales tools like physical catalogs, which have made it difficult for the company to increase prices quickly enough to keep pace with inflation’s four-decade high.