The net loss was $78,868,000 for the second quarter ended Jun. against income of $928,000 as sales fell 22% to $59,004,000 from $75,498,000 with the troubled Direct segment sales falling 40% to $20,834,000 from $34,824,000 and producing an operating loss of $10,876,000 against income of $12,030,000. The Retail segment sales declined 4% to $37,453,000 against $39,185,000 with an operating loss of $969,000 against income of $7,489,000. The quarter included a $72,008,000 impairment charge related to the goodwill on the balance sheet relative to the company’s decline in share price.

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