Linens 'N Things 3Q sales grow, loss widens

CLIFTON, N.J. Linens 'N Things today reported that total net sales for the third quarter ended Sept. 29 were $666.8 million, an increase of 1.3% over the same period last year.

The company reported that comparable-store sales decreased 1.4% for the quarter.

“Despite the ongoing challenges in the retail environment, we posted significantly improved same-store sales in the third quarter from the second quarter,” said Robert DiNicola, chairman and ceo. “In addition, we were encouraged by a healthier sales mix during the third quarter, with both the housewares and textiles categories generating positive comparable-store sales. We continue to invest in the basics and our overall inventory ownership this year reflects our commitment to our key classifications. As we look forward to the upcoming holiday season, we believe our merchandise and marketing plans are focused to drive traffic to our stores and to create excitement on the sales floor during this important season.” 

The company generated a net loss for the third quarter of 2007 of $79.9 million compared with a net loss of $27.4 million in the third quarter of 2006.