The following summarized unaudited results of operations for the quarters in fiscal 2018 and fiscal 2017 have been prepared on the same basis as the annual financial statements and reflect normal recurring adjustments that we consider necessary for a fair presentation of results of operations for the periods presented. Our results of operations have varied and may continue to fluctuate significantly from quarter to quarter due to seasonality and the timing of operating expenses. Results of operations in any period should not be considered indicative of the results to be expected for any future period.



	First Quarter			Second Quarter			Third Quarter			Fourth Quarter (a)			Total
	(In thousands, except percentages and per share amounts)
Fiscal 2018
Net sales	$	156,505		$	150,799		$	131,714		$	157,619		$	596,637
Gross profit	56,255			56,870			47,155			46,567			206,847
Gross profit margin	35.9		%	37.7		%	35.8		%	29.5		%	34.7		%
Operating expenses	58,202			56,001			55,537			55,731			225,471
Operating income (loss) (b)	(1,947		)	869			(8,382		)	(9,164		)	(18,624		)
Other expense, net	(1,019		)	(889		)	(755		)	(805		)	(3,468		)
Income tax provision	(20		)	(20		)	(20		)	(5		)	(65		)
Net loss (b)	$	(2,986	)	$	(40	)	$	(9,157	)	$	(9,974	)	$	(22,157	)

Net loss per share	$	(0.05	)	$	(0.00	)	$	(0.14	)	$	(0.15	)	$	(0.34	)
Net loss per share — assuming dilution	$	(0.05	)	$	(0.00	)	$	(0.14	)	$	(0.15	)	$	(0.34	)
Weighted average shares outstanding:
Basic	65,361			66,009			66,352			66,571			66,073
Diluted	65,361			66,009			66,352			66,571			66,073

Fiscal 2017
Net sales	$	156,343		$	148,949		$	150,212		$	192,716		$	648,220
Gross profit	56,286			56,480			57,294			65,052			235,112
Gross profit margin	36.0		%	37.9		%	38.1		%	33.8		%	36.3		%
Operating expenses	56,867			56,951			57,648			60,424			231,890
Operating income (loss) (c)	(581		)	(471		)	(354		)	4,628			3,222
Other expense, net	(2,406		)	(1,311		)	(1,373		)	(1,434		)	(6,524		)
Income tax benefit (provision)	(209		)	(209		)	624			3,239			3,445
Net income (loss) (c)	$	(3,196	)	$	(1,991	)	$	(1,103	)	$	6,433		$	143

Net income (loss) per share	$	(0.05	)	$	(0.03	)	$	(0.02	)	$	0.10		$	0.00
Net income (loss) per share — assuming dilution	$	(0.05	)	$	(0.03	)	$	(0.02	)	$	0.10		$	0.00
Weighted average shares outstanding:
Basic	60,919			64,091			65,191			65,279			63,870
Diluted	60,919			64,091			65,191			65,672			63,968


(a)	As a result of the Company's retail calendar, the fourth quarter of fiscal 2018 includes 13 weeks of operations as compared to 14 weeks in the fourth quarter of fiscal 2017.


(b)	Net loss and operating loss for the first, third and fourth quarters of fiscal 2018 includes executive and management transition costs of $1,024,000, $408,000 and $661,000. Net loss and operating loss for the fourth quarter of fiscal 2018 also includes a $665,000 gain on the television station sale.

(c) Net income (loss) and operating income (loss) for the first, second, third and fourth quarters of fiscal 2017 includes executive and management transition costs of $506,000, $572,000, $893,000, and $174,000. In addition, net income (loss) for the first, third and fourth quarters of fiscal 2017 includes loss on debt extinguishment of $913,000, $221,000 and $323,000. Net income and operating income for the fourth quarter of fiscal 2017 also includes a $551,000 gain on the television station sale.