The bottom line swung to negative $305,426,000 from last year’s profit $10,010,000 on sales down 10% to $1,183,665,000 from $1,316,965,000 for the fiscal first quarter, with the top line beating guidance in the midst of the overhaul strategy while net loss piled up on $274 million in litigation reserve expense and $25 million in restructuring charges. By region, North American sales decreased 14% to $709 million on softer full-price wholesale demand and lower sales to the off-price channel, along with a drop in DTC as e-commerce promotions were pulled back and ... Log in to view full article.