Linens 'n Things Sales Fall in 2Q
Clifton, N.J. Linens Holding Co. said Tuesday its sales dropped 21% in its second quarter. The company, which filed for Chapter 11 bankruptcy protection in May, reported total sales of $504 million for the quarter and retail sales of $468.1 million.
Linens Holding said the retail sales figure does not include $35.9 million in liquidation sales related to the closing of 120 stores.
The retailer said the drop in retail sales was mainly due to an 18.3% decline in same-store sales.
The company also said its sales fell because it was operating 105 fewer stores in this year's quarter.
Linens Holding did not offer any indication of its earnings for the quarter, saying it needed more time to complete its financial statements due to its Chapter 11 filing.