Clifton, NJ, July 20--Linens 'n Things reported a loss of $5.9 million, or 13 cents per share, for the second quarter ended July 2, compared with a profit of $97,000, or nil per share, a year earlier.
Analysts on average had forecast a loss of 13 cents per share.
Quarterly sales fell 0.9 percent to $573.3 million, even though the retailer opened 17 new stores during the period.
The retailer acknowledged that customers have stayed away as its stores undergo that merchandise makeover, but said it was hopeful that a strong back-to-school assortment would win back shoppers.
The company forecast earnings of $1.25 to $1.50 per share for the second half of the year. Analysts, on average, expect a second-half profit of $1.48.
