Friday, December 4, 2009

Cost Plus Posts $22.1 Million Quarterly Loss

By Robert Gammon
Fri, Dec 4, 2009 at 10:52 AM

Oakland-based retailer Cost Plus posted a $22.1 million loss for the quarter ending October 31, according to the Associated Press and the CoCo Times. Sales decreased 10.4 percent from the year before. The retailer, however, noted that its sales actually showed modest improvement in the past few months, and said they were up 4.9 percent in November compared to last year.

Overall, retail sales were down 0.3 percent nationwide in November, a troubling trend, because they were so dismal last year, following the financial meltdown. The poor November sales numbers raise concerns that this year’s holiday shopping season may turn out to be another bust.



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