Small Business Solutions
Elizabeth Blackwell
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In 2007, existing store sales fell 3.4%, and the company posted a net loss of $242 million. The jittery economy didn't impact just Linens 'n Things, of course. But it had far less of a safety net than its biggest rival. While Linens 'n Things is unable to make its interest payments to creditors, Bed Bath & Beyond has $224 million of cash on hand with no long-term debt. The coming months don't look promising for either chain. Although this week's Commerce Department retail report showed an encouraging .2% rise in retail sales, most of that increase came from a jump in gasoline sales. Sales in the furniture and home furnishings sector were down 9% from this time last year. Which means that both Bed Bath & Beyond and Linens 'n Things will be struggling. But only one of those companies will be on life support.
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