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Cost Plus, Inc. Reports Fourth Quarter And Fiscal 2011 Results And Provides Outlook For The First Quarter And Full Year Fiscal 2012

Stocks in this article: CPWM

Cost Plus, Inc. (NASDAQ:CPWM) today announced financial results for its fourth quarter and fiscal year ended January 28, 2012 and provided its financial outlook for the first quarter and full year of fiscal 2012.

Fourth Quarter and Fiscal 2011 Highlights

  • Same store sales for the quarter increased 7.6% on top of a 7.7% increase for the quarter last year.
  • Same store customer count for the quarter increased 3.4% and same store average ticket increased 4.1%.
  • Net sales for fiscal 2011 were $963.8 million, a 5.2% increase compared to $916.6 million for fiscal 2010.
  • Net income from continuing operations for fiscal 2011 was $17.7 million compared to $4.7 million for fiscal 2010.
  • Earnings per diluted share from continuing operations for fiscal 2011 was $0.76 compared to $0.21 last year.
  • No outstanding borrowings as of January 28, 2012 compared to $25.4 million outstanding borrowings last year.
  • Non-GAAP EBITDA from continuing operations for fiscal 2011 was $51.3 million compared to $39.5 million for fiscal 2010.

Fourth Quarter and Fiscal 2011 Results from Continuing Operations

Net sales for the fourth quarter of fiscal 2011 were $364.3 million, a 6.7% increase compared to $341.6 million for the fourth quarter of last year. Same store sales for the fourth quarter of fiscal 2011 increased 7.6% on top of a 7.7% increase for the fourth quarter of last year. The increase in same store sales for the fourth quarter was due to an increase in customer count of 3.4% and an increase in the average ticket per customer of 4.1%. Net sales for fiscal 2011 were $963.8 million, a 5.2% increase compared to $916.6 million for fiscal 2010, and same store sales increased 5.4% on top of a 7.2% increase for fiscal 2010.

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