This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Linens 'n Things Misses Estimates by a Penny, Trades Near 52-Week High

Earnings Scorecard
Actual Estimated* Year-Ago
$0.84 $0.85 $0.70

Linens 'n Things (LIN) reported fourth-quarter earnings today that missed Wall Street's slightly lowered estimates by a penny, and said it expects fiscal 2001 earnings to come in below analysts' expectations.

Still, shares of Linens 'n Things gained $3.27, or 9.9%, to $36.26 in recent New York Stock Exchange trading. The company traded at a 52-week high of $36.50 earlier this morning.

For the fourth quarter ended Dec. 30, Linens 'n Things earned $34.5 million, or 84 cents a diluted share, up from $28.7 million, or 70 cents a share, in the same period one year ago. Fifteen analysts surveyed by First Call/Thomson Financial expected the company, which is based in Clifton, N.J., to earn 85 cents a share.

The housewares retailer reported fourth-quarter revenue of $495.6 million, up from $414.3 million in the year-ago period. Same-store sales for the quarter rose 2.4%.

Linens 'n Things expects operating profit and net earnings to grow roughly 23% in fiscal 2001. The company projected diluted earnings of $1.92 a share. According to First Call, analysts expect the retailer to earn $1.97 a share for fiscal 2001.

The company also said it believes revenue will grow 20% to $1.9 billion, and, as it plans to open 60 to 65 new stores, capital expenditures to total $90 million.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs