Cost Plus reclaims FY profit

HTT Staff -- Home Textiles Today, 3/18/2011 8:33:43 AM

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%.