Home textiles retailer Linens 'n Things Q3 sales decline

19 Oct '05

3 min read

Net loss for the thirty-nine week period ended October 1, 2005 was approximately $9.0 million or $0.20 per share on a fully diluted basis. For the same period last year, the Company had net earnings of $16.2 million or $0.35 per fully diluted share.

During the third quarter, the Company opened fourteen new stores and closed three stores, increasing its total square footage to 17.6 million as compared with opening eight stores and closing two stores during the same period last year. The Company currently expects to open approximately 55 new stores in the United States and Canada in 2005, further expanding its presence as a leading retailer of home furnishings.

Nation's largest home textiles retailer Linens 'n Things, with 2004 sales of $2.7 billion is one of the leading, national large format retailers of housewares and home accessories. The business strategy is to offer a broad selection of high quality, brand name home furnishings merchandise at exceptional everyday values, provide superior guest service, and maintain low operating costs. Our mission is to exceed the expectations of our guest in every store, every day.

Linens 'n Things Inc

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