Catalogue and multi-channel direct marketer of women's and men's apparel, Blair Corporation, on Friday posted a sharp drop in second quarter sales but a jump in profits to $7 million, or 88 cents per share, from $5.4m, or 69 cents per share, in 2001. The Pennsylvania-based company said second quarter sales fell to $147.5 million from $164m in the year-ago period, while net sales for the six months ended June 30, fell to $282.7m from $297.1m and net profit rose to $12.6m, or $1.58 per share, from $5.2m, 66 cents per share, last year.