Reply #11: Linens N' Things 3Q earns $1M vs $17.2M [View All]

[UpInArms]

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38644.3387265509-846647576&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

NEW YORK (MarketWatch) -- Linens N' Things (LIN) Wednesday reported third-quarter earnings of $1 million, or 2 cents a share, down from a year-ago profit of $17.2 million, or 38 cents a share. Sales fell 3.8% in the latest three months to $629.3 million from $654.2 million in the same period a year earlier. Same-store sales dropped 10.2% in the period. The average estimate of analysts polled by Thomson FIrst Call was for a profit of a penny a share in the September period. The Clifton, N.J. home textiles retailer doesn't plan to provide an outlook for the fourth quarter. The stock closed Tuesday at $23.84, down 16 cents.