Cost Plus, Inc. Announces First Quarter Sales Increase of 18.5%, 3.0% Increase in Comparable Store Sales.Business Editors OAKLAND, Calif.--(BUSINESS WIRE)--May 8, 2003 Cost Plus, Inc. (Nasdaq:CPWM CPWM Certified Public Works Manager (New Jersey state license) CPWM Controlled Pulsewidth Modulation ) announced today that total sales for the first quarter ended May 3, 2003 were $159.2 million, an 18.5% increase from $134.3 million for the first quarter ended May 4, 2002. Same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of for the first quarter of fiscal 2003 increased 3.0% on top of a 3.8% increase for the first quarter of fiscal 2002. Murray Dashe, Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated, "We are pleased to report an 18.5% sales increase with positive comparable store results for the quarter in view of the temporary impact on retail sales caused by the war with Iraq. Easter season The new liturgical calendar of the Roman Catholic Church, which took effect in 1970 following its earlier approval by the Second Vatican Council changed the "Sundays after sales were solid, with excellent sell-through of related product lines. Post war consumer confidence appears to be rising." The Company now estimates its first quarter 2003 earnings will exceed the current consensus estimates of $0.09 per fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share. It is revising earnings guidance upward by $0.02, to $0.11 per fully diluted share. The Company will provide detailed second quarter and full year earnings guidance when it reports first quarter results on May 22, 2003. During the quarter, the Company opened six new stores, one more than planned, with one each in: Charlotte, NC; Rockford, IL; Tracy, CA; Dallas, TX and Colorado Springs Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. and Boulder, CO. The Company's first quarter earnings conference call will be May 22, 2003 at 8:30 a.m. PST PST Paroxysmal supraventricular tachycardia, see there . It will be held in a "listen-only" mode for all participants other than the sell-side and buy-side investment professionals who regularly follow the Company. Phone numbers for the call are (415) 537-1964 or (646) 862-1059. Callers are advised to dial in approximately 15 minutes prior to the scheduled start time. A telephonic replay will be available at (402) 977-9140, Access Code: 21142149, from 10:30 a.m. PST Thursday to 10:30 a.m. PST on Friday, May 23. Investors may also access the live call or the replay over the internet at www.streetevents.com; www.companyboardroom.com and www.costplus.com. The replay will be available approximately one hour after the live call concludes. Cost Plus, Inc. is a leading specialty retailer of casual home living and entertaining products. As of May 3, 2003, the Company operated 181 stores in 23 states compared to 156 stores in 20 states as of May 4, 2002. The above statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc anticipated first quarter earnings is a "forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " which is based on current expectations and is subject to various risks and uncertainties which could cause actual results to differ materially from those forecasted. Such risk factors include, but are not limited to, adjustments and entries made in the process of closing the Company's books and reconciling its accounting records. Please refer to documents on file with the Securities and Exchange Commission for a more detailed discussion of the Company's risk factors. The Company does not undertake any obligation to update its forward-looking statements. |
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