NEW YORK — Finlay Enterprises narrowed its second-quarter loss as it benefited from operational discipline and an increase in department store sales, but the company said it will lose a substantial amount of business from planned consolidations at Federated Department Stores and closings at May Department Stores Co.

On Tuesday, Finlay issued a statement that said, because of the consolidation of the Burdines-Macy’s stores in February, Federated will not renew Finlay’s lease with the Burdines department store division, which runs through Jan. 31. Finlay operates in all 46 Burdines units and posted sales in the last fiscal year of about $50 million in those stores.

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