Finlay Enterprises moved deeper into the red in the first quarter of fiscal 2008 as higher expenses and weak consumer confidence in the United States took its toll. The New York-based jewelry retailer reported late Wednesday a net loss of $11.01 million, or $1.19 per share, for the three months ending May 3, 2008, compared to a loss of $7.6 million, or $0.84 a share, in the same period a year earlier. The loss came despite a 26 percent rise in sales for the period to $205.1 million, as reported earlier in the month.

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