Girls' and young women's clothing chain Too Inc on Wednesday reported a steep fall in first quarter net profit as sales fell amid colder weather and a "fashion misstep" that hit its fourth quarter results.

The Ohio-based operator of 516 stores posted a net profit of $4.2 million, or 12 cents per share, versus $5.8m, or 18 cents a share, in the year-ago period as sales dropped to $140.1m from $158.6m.

Same-store sales for the 13 weeks to May 3 plunged 18 per cent although it said the late Easter and a promotional shift had pushed around $6.5m of sales from the first quarter to the second quarter.

Too said it expects the difficult retail environment for specialty retailers to continue into second quarter where it sees same-store sales down 10 to 12 per cent and earnings in the range of four to seven cents.