The stock was falling 19.10% to $9.87 in post-market trading, after having lost 11.96% in regular trading.
Fiscal year 2020 second-quarter adjusted net loss came in at $24.29 a share, wider than Wall Street's expectation of $15.88. Last year's net loss per share was $12.68. Sales were $306 million, missing analysts' estimates of $315 million, and falling 14% year-over-year. Same-store-sales fell 12.6%, worse than the expected 10%.
On a positive note, "we are continuing to execute against the cost initiatives under our fiscal 2020 action plan," said Bob Riesbeck, chief financial officer. "Our teams did a good job of controlling expenses during the second quarter and we are tracking to our previously stated expectation to reduce full-year SG&A [selling, general and administrative] by approximately $90 million versus fiscal 2019. Importantly, we believe we have sufficient liquidity to achieve our fiscal 2020 goals."
The stock was up almost 100% for the year, coming into earnings.