Net loss attributable to shareholders expanded 64% to $60,635,000 from a loss of $36,979,000 in the fourth quarter as sales tumbled 34% to $94,034,000 from $143,537,000 as it continues to work on aligning promotions across channels. The bottom line included $75.5 million in restructuring and impairment charges, up 44% from the prior year, with both years’ charges mostly non-cash. Gross margin contracted 50 b.p. to 60.6%, while SG&A was reduced by 39% to 53.2% of sales, led by lower marketing costs and declining distribution costs along with the companywide cost reductions. ... Log in to view full article.