Cost Plus Reclaims FY Profit

Home Textiles Today Staff -- Home Textiles Today, 5/5/2011 4:11:40 AM

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%.