Net loss narrowed 55% to $116,408,000 from $258,886,000 for the fiscal first quarter ended June 30 as revenue inched down (-2% constant currency) to $1,760,666,000 from $1,769,060,000, but was up 5% CC excluding Vans, which is still working on channel cleanup. The bottom line benefited from lapping last year's $106.9 million loss from discontinued operations, along with gross margin expanding 270 b.p. to 46.1% on better inventory quality, less discounting, and ForEx headwinds. Ongoing cost-cutting efforts held SG&A to a 1% dollar increase, deleveraging 70 b.p. to 58.8% of sales. On ... Log in to view full article.