Update: Cost Plus details store closure plan; two California stores affected

After announcing on Friday that it would close 26 locations and exit eight regional markets nationwide, Cost Plus Inc. provided details of its store-closure plan Monday.

The specialty retailer will close two of its 73 stores in California: one at 4421 Mills Circle in Ontario and another at 105 Plaza Drive in Vallejo.

The eight markets that Cost Plus plans to exit are: Cincinnati; Fort Lauderdale, Fla.; Fort Wayne, Ind.; Memphis, Tenn.; Minneapolis-St. Paul; Rochester, Minn.; Omaha, Neb.; and Rockford, Ill.

The store closures will leave the Oakland, Calif.-based retailer with 270 stores in 30 states.

"Closing under-performing 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," Chief Executive Barry Feld said.

-- Andrea Chang

Comments

[Simonian]

I just talked the store manager at the Cost Plus in Ontario. He said everything is on sale between 10% to 30% off. And the store is closing around February 28th. One thing that always strikes me with these big chain liquidation sales, is that in the beginning they're really not much of a sale. 10% off? Big deal. Walk around the mall and there are tons of 50% off sales. As the store gets closer to the actual closing date, then the real liquidation sales begin. There is usually a sweet point between getting the max percent off and still not waiting until the inventory is depleted. I stay on top of liquidations as if it were my business, to see a list of local liquidation sales check out http://LiquidationMob.com

[Amar Ket]

BE WARNED - THEY HAVE 0% DISCOUNT ON WINE!!!!!!