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NATION

Linens ’n Things plans liquidation sales at stores

NEW YORK — Specialty retailer Linens ’n Things, which filed for bankruptcy protection in May, plans to begin liquidation sales at its stores as early as Thursday after failing to find a buyer that wanted to operate the company.

“It’s a straight going-out-of business liquidation sale,” said James Schaye, president and chief executive of Hudson Capital Partners, one of the members of the investment group buying the company’s assets. He expects the process for the company’s approximately 371 remaining store locations will take about 11 weeks.

Johnson & Johnson surpasses expectations

TRENTON, N.J. — Health-care giant Johnson & Johnson on Tuesday posted a 30 percent jump in third-quarter profit and beat Wall Street expectations, mainly because the year-ago results were weighed down by a $745 million restructuring charge.

Higher sales of consumer products and medical devices, boosted overseas by the weak dollar, also helped the New Brunswick, N.J.-based maker of contraceptives, baby-care items, medical devices and prescription drugs. It reported net income of $3.31 billion, or $1.17 per share, up from $2.55 billion, or 88 cents per share, in the year-ago period.

Associated Press