TITLE

Charge Accentuates LNT Loss

AUTHOR(S)
Hogsett, Don
PUB. DATE
October 2004
SOURCE
Home Textiles Today;10/25/2004, Vol. 26 Issue 9, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the financial performance of Linens 'n Things Inc. (LNT). With sales stalled by slow traffic, southern hurricanes and school season, and pressurized earnings from the retailers, the third-quarter profits at LNT went down to $17.2 million from $21 million in 2003. Overall sales at LNT improved 8.5 percent. According to Norman Axelrod, chairman and CEO, the healthy start in the third quarter was declined by guest traffic trends. The marketing and merchandising efforts in the fourth quarter have been intensified. Bill Giles, chief financial officer, expects same-store sales during the Christmas quarter to improve slowly.
ACCESSION #
14847564

 

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