NEW YORK — Sales slumped in the third quarter, but comparisons to year-ago charges allowed Reeds Jewelers Inc. to narrow its loss.

For the three months ended Nov. 30, the Wilmington, N.C.-based jewelry retailer reported a net loss of $692,000, or 8 cents a diluted share. That compares favorably with last year’s loss of $9.1 million, or $1.07.

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