Rex Stores reports Q1 loss

Dayton, Ohio Rex Stores Corp. has reported a first-quarter loss on weakening results from its alternative energy division.

The company reported a loss of $1.7 million, compared with net income of $1.5 million last year.

Rex's alternative energy unit posted a loss of $2 million, compared with earnings of $428,000 the prior year.

The quarter was also hurt by the absence of income from synthetic fuel investments. The previous year included $670,000 of such income.

Sales for the quarter ended April 30 climbed to $29.7 million, up 11% from $26.8 million in the prior-year period.