Tupperware Brands Corp. TUP, -32.16% shares plunged nearly 33% in Wednesday trading, en route to a 22-month low, after first-quarter profit sank below Street expectations and the company withdrew its guidance. The food storage company reported a net loss of $100,000, or no earnings per share, after posting net income of $45.3 million, or 85 cents per share, last year. Adjusted EPS of 12 cents was well below the FactSet consensus for 52 cents. Sales of $348.1 million were down from $413.9 million and also below the FactSet consensus for $356.8 million. "Sales were negatively impacted by the Russia/Ukraine conflict, as well as strict COVID-related lockdowns in China and internal challenges in execution, technology, and service," said Chief Executive Miguel Fernandez, in a statement. "This quarter illuminated elements within our core direct selling business that still require fundamental improvement, and we are refocusing our efforts to address them." Fernandez says the company's turnaround had been on track, but now faces operational uncertainty for the year. Tupperware has named Mariela Matute as chief financial officer, effective May 24. Tupperware stock is down 22.5% for the year to date.