Retailer News

BARRY'S POSTS FIRST-QUARTER LOSS Barry's Inc. posted a $5.7 million net loss for the first quarter of fiscal 1997, which ended Aug. 31. That compares with a $1 million loss for the same period of fiscal 1996. Net sales for the quarter totaled $26.1 million, down from $26.7 million. In other first-quarter results: Selling, general and administrative expenses rose $1.1 million because of higher expenditures for professional services, advertising and start-ups. Cost-of-goods-sold and occupancy expenses rose by about $1 million. Barry's attributed the increase to a shift to value pricing and to higher reserves for inventory shrinkage. Barry's incurred an extraordinary charge of $876,000 related to termination of a securitization agreement with Capital Markets Assurance Corp. This was replaced by an $85 million revolving line of credit from Fi

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