Cost Plus reclaims FY profit
Retail Editor 2 -- Home Textiles Today, March 18, 2011
Oakland, Calif. - Higher initial markups and fewer 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%.