Cost Plus to Close 26 Stores and Cut Jobs

Feld said the company's cost-cutting actions, combined with previous steps, helps put Cost Plus on a solid footing in terms of liquidity and working capital.

Also Friday, Cost Plus said Michael J. Allen, the company's executive vice president for store operations, has left the company.

Cost Plus operates 296 stores. Its shares fell 3 cents, or 3%, to 98 cents in afternoon trading. The stock has traded between 75 cents and $4.49 during the past 52 weeks.