NEW YORK — Lower net and same-store sales prevented Finlay Enterprises and Whitehall Jewelers from posting first-quarter profits.

For the three months ended May 3, Finlay posted a net loss of $1.5 million, or 16 cents a diluted share. That compares with last year’s much greater loss of $17.2 million, or $1.78, which, excluding an accounting change, would be reduced to a loss of $33,000, or 0 cents.

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