LNT Predicts Second Quarter Loss

June 2005
Home Textiles Today;6/13/2005, Vol. 26 Issue 39, p2
Trade Publication
The article informs that textile industry firm Linens 'n Things Inc. (LNT) has shifted its outlook for the second quarter from black to red, warning Wall Street to expect a loss of 11 to 15 cents per share. Previously, the company had expected to post earnings between 3 and 9 cents per share. Now, LNT expects comp net sales for the second quarter to decline in the mid to high single-digit range. We are disappointed in our second quarter performance, stated Norman Axelrod, chairman and CEO. Although we had expected to experience some weakness in traffic during the first half of fiscal 2005, the magnitude and timing of product transitions resulted in a greater impact on guest traffic than we had initially anticipated, he added.


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