At Physicians Formula, net sales for the first quarter of 2009 dropped almost 50% to $20.2 million, compared to the same period in 2008. Ingrid Jackel, company chairwoman and chief executive officer, stated, “During the first quarter, we experienced a significant disconnect between our reported net sales and our retail sell-through due to the current retail environment. Sell-through of Physicians Formula at our retailer partners only experienced a mid single-digit decline in the first quarte...