The net loss narrowed to $16,615,000 in the fiscal first quarter ended Jun. 30 from a loss of $52,348,000 including a $9 million impairment charge for Savage Arms this year and a $45 million impairment for the since-divested eyewear brands last year. Revenue was down 13% to $459,774,000 from $528,836,000 and down 7% on an organic basis excluding the eyewear brands. Gross margin declined 80 basis points to 20.7% while SG&A was $17 million lower and improved 90 b.p. as a percent of sales despite the lower top line. A “large” further reduction in G&A is in the works and ... Log in to view full article.