Accessory footwear marketer R.G. Barry Corporation has posted reported a decline in earnings for its first quarter ended September 29, partly as a result of higher income tax rate.

Net earnings totalled $3.8 million compared with $6.3 million in the prior-year period. Net sales also fell, totalling $32.1 million compared with $35.3 million a year ago.

President Greg Tunney said: "Despite the quarterly variations and uncertainty at retail, we expect our results for the full fiscal year to be in line with our previously issued guidance of a net sales increase in the range of 4%-8%.”

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