Net loss came in at $17,395,000 in the first quarter compared to last year’s profit of $677,000 on revenues that were down 41% to $77,289,000 from $130,303,000 as brick-and-mortar fell 58% to $47.0 million but e-commerce jumped 54% to $30.3 million. All 239 stores closed Mar. 18, remaining so for the final 45 days of the 91-day quarter. Gross margin all but evaporated to just 2.1% from last year’s 27.4%, as occupancy costs deleveraged 1,250 b.p. despite being $0.5 million lower than last year, primarily due to the plummeting sales. SG&A contracted 16% to $29,995,000 while expanding 1,150 b.p. as ... Log in to view full article.