Tarrant Apparel Group reported third quarter net loss of $25.4 million (83 cents per share), a big decrease from a $1.7 million profit (6 cents) from the same period a year earlier.

Net sales for the Los Angeles-based private clothing label maker was also down 21 percent to $54.6 million mainly due to poor sales of the company's Jessica Simpson brands and a non-cash charge of $27.1 million.

Shares in Tarrant close flat Tuesday at $1.32 a share.

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