By and  on May 13, 2009

Improvements in gross margin and sales of nonluxury accessories helped Swank Inc. cut its first-quarter losses by a third.

The New York-based marketer of men’s accessories and leather goods reported that the net loss for the three months ended March 31 was $279,000, or 5 cents a diluted share, an improvement over the loss of $411,000, or 7 cents, in last year’s quarter.

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