Cost Plus Reclaims FY Profit
Home & Textiles Today Staff -- Home Textiles Today, May 5, 2011
Higher initial markups and few markdowns helped boost Cost Plus' profitability during the recent fiscal year.
Net income from continuing operations for fiscal 2010 was $4.7 million or 21 cents per share compared to a loss of $46.2 million or $2.09 per diluted share last year.
Sales rose 5.7% to $916.6 million, with comps up 7.2%.
For the fourth quarter, net income from continuing operations rose 37.1% to $28.8 mill, or $1.24 per share. Sales climbed 7.1% to #341.6 million, with comps rising 7.7%.
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