Cost Plus, Inc. (CPWM)
Specialty retailer Cost Plus, Inc. (CPWM - Analyst Report) is closing stores, cutting costs, and trying to preserve cash, but those moves will do little to reverse its weak sales trends and merchandise margins.
In addition, management's guidance for the third quarter cautioned investors to prepare for more weakness. Cost Plus expects same-store sales to decrease 6%-11% and a pre-tax loss from continuing operations of $19-$24 million.
Cost Plus is scheduled to report third quarter results on December 3. We have an Underperform rating on CPWM shares. Our six-month target price is $0.50.
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| Market Summary | Nov 23, 2009 01:18 am ET |

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