Home and electric housewares retailer Linens 'n Things reported its financial results for the second quarter ended June 30, 2007. The company reported total net sales of US$593.6 million for the quarter, a 2.9% decrease over the same quarter in 2006. The decrease in net sales resulted from a comparable store sales decline of 7.3% for the quarter, partially offset by the opening of new stores. The company generated a net loss for the second quarter of 2007 of $42 million compared with a net loss of $39.1 million in the second quarter of 2006. Net sales decreased 3.3% to $1,165.1 million.
During the second quarter of 2007, the company opened seven stores. Store square footage increased 3.9% to 19.2 million at June 30, 2007.
to Daily News