Quote:
Originally Posted by Joe 4520832257
Decline and fall? Are they having serious problems?
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This is a recent press release:
COST PLUS, INC. PROVIDES DETAIL ON PLAN TO CLOSE 26 STORES AND EXIT EIGHT MEDIA MARKETS
Oakland, CA -- January 9, 2009 -- Cost Plus, Inc. (Nasdaq: CPWM) today provided detail on the plan to close 26 stores and exit eight media markets. Upon completion of its plan to rationalize operations, Cost Plus will operate 270 stores in 98 markets covering 30 states.
The eight media markets the Company plans to exit include: Cincinnati OH, Fort Lauderdale FL, Fort Wayne IN, Memphis TN, Minneapolis-St. Paul MN, Rochester MN, Omaha NE, and Rockford IL.
Individual stores to be closed include: Mesa (1349 Alma School Road Mesa, AZ), Ontario (4421 Mills Circle Ontario, CA), Vallejo (105 Plaza Drive Vallejo, CA), Pembroke Pines (11960 Pines Boulevard Pembroke Pines, FL), Stonecrest (8140 Mall Parkway Lithonia, GA), Fayetteville (240 Pavilion Parkway Fayetteville, GA), Hoffman Estates (2780 Sutton Road Hoffman Estates, IL), Rockford (6650 East State Street Rockford, IL), Fort Wayne (4310 Coldwater Road Fort Wayne, IN), Germantown (20904 Frederick Road Germantown, MD), Bloomington (4250 West 78th Street Bloomington, MN), Maple Grove (12209 Elm Creek Blvd Maple Grove, MN), Minnetonka (11240 Wayzata Blvd. Minnetonka, MN), Rochester (1200 16th Street SW Rochester, MN), Roseville (2401 Fairview Ave., North Roseville, MN), Woodbury (8268 Tamarack Village Woodbury, MN), Southaven (6535 Towne Center Crossing Southaven, MS), Omaha (201 North 78th Street Omaha, NE), Papillion (7549 Towne Centre Parkway Papillion, NE), West Omaha (17101 Davenport Street Omaha, NE), Western Hills (5555 Glenway Avenue Cincinnati, OH), Tri-County (11747 Princeton Pike Springdale, OH), Kenwood (8121 Montgomery Road Cincinnati, OH), Collierville (4600 Merchants Park Circle Collierville, TN), Market at Wolfcreek (2825 N. Germantown Parkway Memphis, TN) and Tysons Corner (2051 Chain Bridge Road Vienna, VA).
President and Chief Executive Officer Barry Feld said, "Closing underperforming stores allows Cost Plus to rationalize its operations and media markets in this challenging economic environment, and to take full advantage of better growth opportunities when the retail climate improves."
Customers that may be losing their local store can continue purchase goods from Cost Plus World Market through its online business,
www.worldmarket.com.
Cost Plus, Inc. is a leading specialty retailer of casual home living and entertaining products. As of today, the Company operates 296 stores in 33 states.
Contact
Jane Baughman
Cost Plus, Inc.
My take : A specialty retailer that has overexpanded and lost a lot of its charm.
Cost Plus was a really great little store at Fisherman's Wharf with an eclectic selection of goods and a great selection of wines. In SF, they have knowledgable staff that can help you out with their products.
The employees in the Midwest are almost non-existent.
Personally, CPWM was my first stop on most trips to SF and I often shipped purchases home. Now, I cannot remember the last time I went into the store. If I need wine, there are a dozen liquor stores with staff that knows the products and is generaly cheaper.
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The decline and fall of World Market
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