Cost Plus Reaffirms Its Financial Target

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Specialty retailer of casual home furnishings and entertaining products Cost Plus Inc. (CPWM) announced that it is reaffirming its earlier fourth quarter and 2011 profit and revenue outlook. This comes ahead of is participation in the 12^th Annual California Dreamin' Consumer Management Access Conference.

The Oakland, California-based company said that it sees net income of $33 - $35 million or $1.40 - $1.48 per share on revenues of $354 - $360 million based on same store sales growth of 4%-6% for the fourth quarter. Street analysts are expecting the company to report earnings of $1.45 a share on revenues of $357.33 million.

Similarly, Cost Plus is reiterating its full year net income of $14 million to $16 million o! r $0.62 - $0.68 per share on net sales of $953 million to $960 million on the strength of 4%-5% comparable store sales upside for full year 2011.? Wall Street analysts are projecting earnings of 63 cents a share on revenues of $957.03 million.

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