Monday, January 12, 2009

Cost Plus Hits Bump, Closes Stores

By Chris Thompson
Mon, Jan 12, 2009 at 11:12 AM

Everyone's been focused on the BART cop riots, but a different piece of bad news hit Oakland on Friday. Cost Plus, the 296-store retailer, announced that slumping holiday sales have forced it to close almost ten percent of its stores. Holiday sales dropped $13 million from the same period last year, and the chain will shutter 26 stores and lay off employees at its Oakland headquarters, the San Francisco Business Times reports. Executive Vice President of Store Operations Michael Allen also quit on Friday.


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