Retail Ventures posts 1Q loss

Columbus Retail Ventures Inc. said that it reported a $43.9 million loss for its first quarter ended May 2.

The company said its loss for the quarter compared with profit of $29.2 million a year ago. Last year’s first quarter was bolstered by a

$37.2 million gain on the value of derivatives, versus a $1.4 million loss this year.

Sales in the first quarter were up 5% to $385.8 million from $366.3 million. Sales results did not include the Filene’s Basement chain, which

Retail Ventures sold off in April and classifying it as discontinued operations.

Weeks later, Filene’s filed for bankruptcy and struck a deal to be sold in bankruptcy court this week.