Home / Knowledge / News / Textiles / Linens 'n Things Comparable store sales decline
Linens 'n Things Comparable store sales decline
15
May '08
Linens Holding Co a leading home furnishings specialty retailer known as “Linens 'n Things,” reported its sales results for the first quarter ended March 29, 2008.

The Company reported total net sales of $566.9 million for the quarter, a 0.8% decrease over the same period in 2007. This decrease in net sales resulted from a comparable store sales decline of 5.7% for the quarter, partially offset by the opening of new stores.

Due to its recent Chapter 11 bankruptcy filing, the Company requires additional time to complete the preparation of its consolidated financial statements for the first quarter of 2008.

The delay is necessary in part because, in connection with the Company's bankruptcy filing, the Company is performing an impairment analysis related to certain of its tangible and intangible assets, which is not yet complete.

As a result, the Company has not finalized its quarterly financial statements on its customary schedule and will not file its Form 10-Q with the Securities and Exchange Commission.

The Company intends to finalize the financial statements and file the report as soon as reasonably practicable. In addition, due to these factors, the Company will not hold a first quarter 2008 investor earnings conference call.

The Company ended the quarter with an asset-based revolver balance of $349.1 million (excluding outstanding letters of credit totaling $61.8 million), cash on hand of $8.3 million and excess availability under its revolving credit facility of $116.1 million.


Must ReadView All

Courtesy: Trinity Kubassek from Pexels

Textiles | On 19th Aug 2018

Australian wool production to fall 5.7% in 2018-19

Shorn wool production in Australia is likely to fall by 5.7 per cent...

Courtesy: Next Level Apparel

Apparel/Garments | On 19th Aug 2018

Blue Point Capital recapitalises Next Level Apparel

Blue Point Capital Partners has recapitalised Next Level Apparel, a...

Retailers approaching 100% inventory accuracy: Study

Apparel/Garments | On 19th Aug 2018

Retailers approaching 100% inventory accuracy: Study

With computer vision use cases maturing, Artificial Intelligence (AI) ...

Interviews View All

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search