Physicians Formula Shares Tank on Loss

Physicians Formula(FACE Quote) swung to a loss in the first quarter, nearly halving shares in morning trading -- and there could be more bad news on the horizon as one of its biggest retailer plans to discontinue products.

Shares massively tanked by 47% to $1.88 in morning trading, as the company recorded a loss of $1.7 million or 13 cents a share, from a profit of $5 million, or 36 cents, in the year-ago period.

Sales fell 53% to $20.2 million from $42.7 million last year, hurt by tighter inventory controls and consumers paring down spending. ...