Cost Plus earnings rise 52.8 percent
Cost Plus announced a 52.8 percent increase in the company's first-quarter profits and a 3 percent rise in same-store sales due to a boost in home furnishings and consumable products. The Oakland, Calif.-based retailer reported that its net income rose to $2.6 million for the quarter ending May 3, compared
to $1.7 million for the same period a year ago. Cost Plus opened six stores this past quarter in Charlotte, N.C., Rockford, Ill., Tracy, Calif., Dallas and Colorado Springs and Boulder, Colo. The retailer currently has 184 store in 23 states and expects to open an additional seven stores in this quarter.
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