Sequential Brands, which licenses brands such as And1 and Avia, saw its net loss decline to $2.78 million in the second quarter from $4.59 million in the year-ago period, although its revenues from continuing operations contracted by 14.4 percent to $22.6 million. Adjusted Ebitda improved to $15.1 million from $13.3 million, thanks to a drop of 20 percent in operating expenses. Like the Iconix Brands Group, Sequential is looking for strategic alternatives. It is negotiating amendments to its financial covenants with lenders. Meanwhile, the company completed a 40-to-1 reverse stock split on July 27 that brought its share price back up above $1, in compliance with Nasdaq’s regulations.