Albert Einstein once said, “In the middle of difficulty lies opportunity.” And right now, the Plunkett Corporation has its difficulty, namely our sharp decline in sales. But rather than becoming panicked by this downturn, I'd like to take Mr. Einstein's advice. After all, he was a pretty smart man. And I am confident that we do have an opportunity here. Not only can we solve our problems and reverse this decline, but in so doing, we can also make changes that will eventually raise our profits higher than ever. I'll tell you exactly how we can do that in a moment.
But before I can share with you my program for combating our problems, it's important that you first understand them. As you know, I have hired an independent consulting firm to come in and help us analyze this situation. After a three-week period in which they've interviewed and observed us carefully, they have identified three major factors behind Plunkett Corporation's drop in sales that I want to now share with you.
One, we are losing our retailers. Several key retailers have stopped ordering from us entirely, and those that we still have dealings with have been ordering from us far less frequently. Speaking with representatives from these retailers, our consultants heard complaints about the lack of personal contact they receive from us and what they perceive as a decline in service. Our retailers have become frustrated with dealing with our sales reps via telephone and fax, and complain of the difficulty they've had getting responses to their questions and problems. As a result, many of them have turned to other companies with better service.
Two, we are losing consumers. At one time, our marketing and advertising worked for us, but it has become terribly outdated. We've