One Price Clothing Stores, Inc reported financial results for the second quarter ended August 4, 2001. For the quarter, the company reported a net loss of $1.2m, or $0.12 per diluted share, compared with net income of $2.6m, or $0.25 per diluted share for the same period last year. Included in the net loss for the quarter is a non-cash charge of $1.6m related to the recording of a valuation allowance against the company's deferred income tax assets.