The organization announced an adjusted loss of $2.00 per share for the quarter, which was below analyst projections of $1.10 loss per share.
Quarterly sales were reported at $215.23 million, marking an 11.1 percent decrease from the same quarter last year but still exceeding analyst estimates of $198.32 million.
Adjusted gross margin for the quarter decreased 240 basis points to 26.8 percent compared to 29.2 percent in the prior year period.
Muhammad Umair, President and Chief Executive Officer, said, “We reported our first quarter results, which provide assurance that our strategies are beginning to take shape as we observed a reduction in the rate of sales declines versus the prior quarter and the same quarter last year, combined with material progress on our transformation efforts in a challenging retail environment.”
