-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, V9ioAtKeiYnnQ5SqUb4iH9bmzS69ecR+JW2p7VJ172MJaWuAaEGCGhgZ+Il3FWea ICkCdMgaPPiHLenIi37wXg== 0000929624-99-002093.txt : 19991214 0000929624-99-002093.hdr.sgml : 19991214 ACCESSION NUMBER: 0000929624-99-002093 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991030 FILED AS OF DATE: 19991213 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COST PLUS INC/CA/ CENTRAL INDEX KEY: 0000798955 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-VARIETY STORES [5331] IRS NUMBER: 941067973 STATE OF INCORPORATION: CA FISCAL YEAR END: 0130 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-14970 FILM NUMBER: 99773348 BUSINESS ADDRESS: STREET 1: 201 CLAY ST STREET 2: P O BOX 23350 CITY: OAKLAND STATE: CA ZIP: 94607 BUSINESS PHONE: 4158937300 MAIL ADDRESS: STREET 1: P O BOX 23350 STREET 2: P O BOX 23350 CITY: OAKLAND STATE: CA ZIP: 94623 10-Q 1 FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE - ------ SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 30, 1999 OR _____ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission file number 0-14970 COST PLUS, INC. (Exact name of registrant as specified in its charter) California 94-1067973 (State or other jurisdiction of incorporation or (I.R.S. Employer Identification No.) organization) 200 4th Street, Oakland, California 94607 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (510) 893-7300 Former name, former address and former fiscal year, if changed since last report.
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No___ ----- The number of shares of Common Stock, $0.01 par value, outstanding on December 1, 1999 was 20,486,849. COST PLUS, INC. FORM 10-Q For the Quarter Ended October 30, 1999 INDEX PART I. FINANCIAL INFORMATION Page ITEM 1. Condensed Consolidated Financial Statements Balance Sheets (unaudited) as of October 30, 1999, January 30, 1999 and October 31, 1998 3 Statements of Operations (unaudited) for the three and nine months ended October 30, 1999 and October 31, 1998 4 Statements of Cash Flows (unaudited) for the nine months ended October 30, 1999 and October 31, 1998 5 Notes to Condensed Consolidated Financial Statements 6-7 ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 8-11 PART II. OTHER INFORMATION ITEM 6. Exhibits and Reports on Form 8-K 12 SIGNATURE PAGE 13 2 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS COST PLUS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands except share and per share amounts, unaudited)
October 30, January 30, October 31, 1999 1999 1998 ----------- ----------- ----------- ASSETS Current assets: Cash and cash equivalents $ 7,507 $ 28,600 $ 856 Merchandise inventories 111,369 70,680 86,546 Other current assets 7,916 4,553 5,081 -------- -------- -------- Total current assets 126,792 103,833 92,483 Property and equipment, net 63,364 59,034 58,593 Other assets 9,810 10,274 10,642 -------- -------- -------- Total assets $199,966 $173,141 $161,718 ======== ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 34,288 $ 17,568 $ 21,612 Income taxes payable -- 8,180 -- Accrued compensation 8,304 7,421 7,084 Revolving line of credit 5,300 -- 7,600 Other current liabilities 11,497 9,633 9,020 -------- -------- -------- Total current liabilities 59,389 42,802 45,316 Capital lease obligations 14,597 15,110 15,256 Deferred income taxes 173 173 1,969 Other long-term obligations 6,781 5,653 5,298 Shareholders' equity: Preferred stock, $0.01 par value: 5,000,000 shares authorized; none issued and outstanding -- -- -- Common stock, $0.01 par value: 67,500,000 shares authorized; issued and outstanding 20,460,562, 19,936,515 and 19,818,557 shares 205 199 198 Additional paid-in capital 111,323 103,999 102,097 Retained earnings (deficit) 7,498 5,205 (8,416) -------- -------- -------- Total shareholders' equity 119,026 109,403 93,879 -------- -------- -------- Total liabilities and shareholders' equity $199,966 $173,141 $161,718 ======== ======== ========
See notes to condensed consolidated financial statements. 3 COST PLUS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands except per share amounts, unaudited)
Three Months Ended Nine Months Ended ------------------ -------------------- October 30, October 31, October 30, October 31, 1999 1998 1999 1998 ------ ----- ------ ------ Net sales $82,834 $66,689 $234,779 $181,696 Cost of sales and occupancy 53,826 43,676 153,367 119,527 ------- ------- -------- -------- Gross profit 29,008 23,013 81,412 62,169 Selling, general and administrative expenses 26,995 22,275 74,267 59,671 Store preopening expenses 906 1,579 2,686 2,257 ------- ------- -------- -------- Income (loss) from operations 1,107 (841) 4,459 241 Net interest expense 323 440 699 872 ------- ------- -------- -------- Income (loss) before income taxes 784 (1,281) 3,760 (631) Income taxes 306 (499) 1,467 (246) ------- ------- -------- -------- Net income (loss) $ 478 $ (782) $ 2,293 $ (385) ======= ======= ======== ======== Net income (loss) per share Basic $ 0.02 $ (0.04) $ 0.11 $ (0.02) Diluted $ 0.02 $ (0.04) $ 0.11 $ (0.02) Weighted average shares outstanding Basic 20,424 19,791 20,261 19,679 Diluted 21,314 19,791 21,130 19,679
See notes to condensed consolidated financial statements. 4 COST PLUS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands, unaudited)
Nine Months Ended ----------------- October 30, October 31, 1999 1998 -------- --------- CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 2,293 $ (385) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization 8,288 6,643 Change in assets and liabilities: Merchandise inventories (40,689) (29,940) Other assets (321) (1,748) Accounts payable 17,208 8,522 Income taxes payable (8,180) (6,282) Other liabilities 3,783 2,595 -------- -------- Net cash used in operating activities (17,618) (20,595) -------- -------- CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (12,650) (11,868) -------- -------- Net cash used in investing activities (12,650) (11,868) -------- -------- CASH FLOWS FROM FINANCING ACTIVITIES: Net borrowings under revolving line of credit 5,300 7,600 Principal payments on capital lease obligations (421) (370) Proceeds from issuance of common stock 4,296 2,405 Cash used for common stock repurchases - (3,750) -------- -------- Net cash provided by financing activities 9,175 5,885 -------- -------- Net decrease in cash and cash equivalents (21,093) (26,578) Cash and cash equivalents: Beginning of period 28,600 27,434 -------- -------- End of period $ 7,507 $ 856 ======== ======== SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Cash paid for interest $ 697 $ 876 ======== ======== Cash paid for taxes $ 9,644 $ 7,482 ======== ========
See notes to condensed consolidated financial statements. 5 COST PLUS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Three and Nine Months Ended October 30, 1999 and October 31, 1998 (Unaudited) 1. BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared from the records of the Company without audit and, in the opinion of management, include all adjustments (consisting only of normal recurring accruals) necessary to present fairly the financial position at October 30, 1999 and October 31, 1998; the interim results of operations for the three and nine months ended October 30, 1999 and October 31, 1998; and the changes in cash flows for the nine months then ended. The balance sheet at January 30, 1999, presented herein, has been derived from the audited financial statements of the Company for the fiscal year then ended. Accounting policies followed by the Company are described in Note 1 to the audited consolidated financial statements for the fiscal year ended January 30, 1999. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted for purposes of the interim condensed consolidated financial statements. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements, including notes thereto, for the fiscal year ended January 30, 1999. The results of operations for the three and nine month periods herein presented are not necessarily indicative of the results to be expected for the full year. 2. REVOLVING LINE OF CREDIT AGREEMENT On October 12, 1998, the Company entered into a revolving line of credit agreement with a bank, which was amended on June 15, 1999 and expires June 1, 2000. The amended agreement allows for cash borrowing and letters of credit up to $20.0 million from January 1 through June 30 and up to $40.0 million from July 1 through December 31 of each year. Interest is paid monthly at the bank's reference rate minus 0.5% (7.75% at October 30, 1999) or IBOR plus 1.125%, depending on the nature of the borrowings. The agreement is secured by the Company's inventory and receivables. The Company is subject to certain financial covenants customary with such agreements. At October 30, 1999, the Company had $5.3 million of outstanding borrowings under the line of credit and $3.0 million outstanding under letters of credit. Interest expense under borrowing arrangements was $30,000 and $44,000 for the nine months ended October 30, 1999 and October 31, 1998, respectively. 3. STOCK SPLIT On September 16, 1999, the Company's Board of Directors authorized a three-for- two split of its common stock effective October 11, 1999 for shareholders of record at the close of business October 1, 1999. On February 16, 1999, the Company's Board of Directors authorized a three-for-two split of the Company's common stock effective March 11, 1999 for shareholders of record at the close of business on March 1, 1999. All share and per share data in the accompanying condensed consolidated financial statements and notes have been restated to reflect both of these stock splits. As a result of these splits, the Company's authorized common stock was increased to 67,500,000 shares. 4. STOCK OPTION PLANS In June 1999, the Company amended its 1995 Stock Option Plan to increase the number of shares available for grant by 600,000 to a total of 4,368,006 shares, less the aggregate number of shares issued or subject to options outstanding under the 1994 Stock Option Plan. 6 COST PLUS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 5. RECONCILIATION OF BASIC SHARES TO DILUTED SHARES The following is a reconciliation of the weighted average number of shares (in thousands) used in the Company's basic and diluted per share computations.
Three Months Ended Nine Months Ended -------------------------- --------------------------- October 30, October 31, October 30, October 31, 1999 1998 1999 1998 ------ ------ ------ ------ Basic Shares 20,424 19,791 20,261 19,679 Effect of dilutive stock options 890 --- 869 --- ====== ====== ====== ====== Diluted shares 21,314 19,791 21,130 19,679 ====== ====== ====== ======
7 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS AN ASTERISK "*" DENOTES A FORWARD-LOOKING STATEMENT REFLECTING CURRENT EXPECTATIONS THAT INVOLVE RISKS AND UNCERTAINTIES. ACTUAL RESULTS MAY DIFFER FROM THOSE DISCUSSED IN SUCH FORWARD-LOOKING STATEMENTS, AND SHAREHOLDERS OF COST PLUS, INC. (THE "COMPANY" OR "COST PLUS") SHOULD CAREFULLY REVIEW THE CAUTIONARY STATEMENTS SET FORTH IN THIS FORM 10-Q, INCLUDING, "FACTORS THAT MAY AFFECT FUTURE RESULTS" BEGINNING ON PAGE 9 HEREOF. THE COMPANY MAY FROM TIME TO TIME MAKE ADDITIONAL WRITTEN AND ORAL FORWARD-LOOKING STATEMENTS, INCLUDING STATEMENTS CONTAINED IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION AND IN ITS REPORTS TO SHAREHOLDERS. THE COMPANY DOES NOT UNDERTAKE TO UPDATE ANY FORWARD-LOOKING STATEMENT THAT MAY BE MADE FROM TIME TO TIME BY OR ON BEHALF OF THE COMPANY. Results of Operations The three months (third quarter) and nine months (year-to-date) ended October 30, 1999 as compared to the three months (third quarter) and nine months (year- to-date) ended October 31, 1998. Net Sales. Net sales increased $16.1 million, or 24.1%, to $82.8 million in the third quarter of fiscal 1999 from $66.7 million in the third quarter of fiscal 1998. Year-to-date, net sales were $234.8 million compared to $181.7 million for the same period of fiscal 1998, an increase of $53.1 million, or 29.2%. The increase in net sales, for the three and nine months of fiscal 1999, was attributable to new stores and an increase in comparable store sales. Comparable store sales rose 8.2% in the third quarter and 9.0% in the nine months as a result of a larger average transaction size and an increase in customer count. At October 30, 1999, the Company operated 99 stores compared to 82 stores as of October 31, 1998. New and non-comparable stores contributed approximately $11.1 million of the third quarter increase and $37.4 million of the year-to-date increase in net sales. Gross Profit. As a percentage of net sales, third quarter gross profit was 35.0% in fiscal 1999 and 34.5% in fiscal 1998. Year-to-date, gross profit, as a percentage of net sales, was 34.7% this year compared to 34.2% last year. The increase in gross profit rate resulted from an improvement in merchandise margin percentage, partially offset by higher occupancy costs in new stores. New stores generally have higher occupancy costs, as a percentage of net sales, until they reach maturity. The merchandise margin improvement resulted from a sales mix more heavily weighted towards higher margin goods, lower markdowns and improved inventory shrinkage. Selling, General and Administrative ("SG&A") Expenses. As a percentage of net sales, SG&A expenses decreased to 32.6% in the third quarter of fiscal 1999 from 33.4% in the third quarter of the prior fiscal year. Year-to-date, SG&A expenses decreased to 31.7% in the current fiscal year from 32.8% last year. The decrease in the SG&A rates resulted primarily from leveraging store payroll, advertising expense and corporate office overhead against higher net sales and an expanded base of stores. Store Preopening Expenses. Store preopening expenses, which include grand opening advertising and preopening merchandise setup expenses, were $906,000 in the third quarter of fiscal 1999 and $1.6 million in the third quarter of the prior year. Expenses vary depending on the particular store site and whether it is located in a new or existing market. The Company opened five stores in the third quarter of fiscal 1999 compared to eight stores in the prior year's third quarter. Year-to-date, store preopening expenses were $2.7 million in fiscal 1999 and $2.3 million in fiscal 1998, primarily as a result of opening 14 stores versus 12 stores, respectively. Net versus Expense. Net interest expense for the third quarter, which includes interest on capital leases net of interest income, was $323,000 for fiscal 1999 and $440,000 for fiscal 1998. For the nine months, net interest expense was $699,000 in fiscal 1999 compared to $872,000 in fiscal 1998. The decrease in net interest expense was due to higher cash balances primarily resulting from higher net income and higher proceeds from the issuance of common stock in connection with the Company's stock option and stock purchase plans. Additionally, cash balances were lower in fiscal 1998 due to the repurchase of 337,503 shares of common stock for $3.8 million from the Company's former Chief Executive Officer. Provision for Income Taxes. The Company effective tax rate was 39.0% in fiscal 1999 and fiscal 1998. 8 Factors That May Affect Future Results The Company's business is highly seasonal, reflecting the general pattern associated with the retail industry of peak sales and earnings during the Christmas season. Due to the importance of the Christmas selling season, the fourth quarter of each fiscal year has historically contributed, and the Company expects it will continue to contribute, a significant percentage of the Company's net sales and most of its net income for the fiscal year*. Any factors negatively affecting the Company during the Christmas selling season in any year, including unfavorable economic conditions, could have a material adverse effect on the Company's financial condition and results of operations. The Company generally experiences lower sales and earnings during the first three quarters and, as is typical in the retail industry, may incur losses in these quarters. The results of operations for these interim periods are not necessarily indicative of the results for the full fiscal year. In addition, the Company makes decisions regarding merchandise well in advance of the season in which it will be sold, particularly for the Christmas selling season. Significant deviations from projected demand for products could have a material adverse effect on the Company's financial condition and results of operations, either by lost sales due to insufficient inventory or lost margin due to the need to mark down excess inventory. The Company's quarterly results of operations may also fluctuate based upon such factors as the number and timing of store openings and related store preopening expenses, the amount of net sales contributed by new and existing stores, the mix of products sold, the timing and level of markdowns, store closings, refurbishments or relocations, competitive factors and general economic conditions. Liquidity and Capital Resources The Company's primary uses for cash are to fund operating expenses, inventory requirements and new store expansion. Historically, the Company has financed its operations primarily from internally generated funds and borrowings under the Company's credit facilities. The Company believes that the combination of its cash and cash equivalents, internally generated funds and available borrowings under its revolving line of credit will be sufficient to finance its working capital and capital expenditure requirements for the next 12 months.* Net cash used in operating activities for the nine months ending October 30, 1999 totaled $17.6 million, a decrease of $3.0 million from the comparable period of the prior fiscal year. This decrease resulted primarily from improved profitability. Net cash used in investing activities, primarily for new stores, totaled $12.7 million for the nine months ending October 30, 1999 compared to $11.9 million in the comparable period of the prior fiscal year. With the addition of one more store than budgeted in fiscal 1999, the Company estimates that its total capital expenditures will approximate $17.6 million. Net cash provided by financing activities was $9.2 million in the first nine months of fiscal 1999, which was primarily net borrowings under the Company's revolving line of credit and proceeds from the issuance of common stock in connection with the Company's stock option and stock purchase plans. Net cash provided by financing activities was $5.9 million in the first nine months of fiscal 1998, primarily as a result of net borrowings under the Company's revolving line of credit and proceeds from common stock issued under the Company's stock option and stock purchase plans which were partially offset by the repurchase of 337,502 shares of common stock for $3.8 million from the Company's former Chief Executive Officer. On October 12, 1998, the Company entered into a revolving line of credit agreement with a bank, which was amended on June 15, 1999 and expires June 1, 2000. The amended agreement allows for cash borrowing and letters of credit up to $20.0 million from January 1 through June 30 and up to $40.0 million from July 1 through December 31 of each year. Interest is paid monthly at the bank's reference rate minus 0.5% (7.75% at October 30, 1999) or IBOR plus 1.125%, depending on the nature of the borrowings. The agreement is secured by the Company's inventory and receivables. The Company is subject to certain financial covenants customary with such agreements. At October 30, 1999, the Company had $5.3 million outstanding borrowings under the line of credit and $3.0 million outstanding under letters of credit. Interest expense under borrowing arrangements was $30,000 and $44,000 for the nine months ended October 30, 1999 and October 31, 1998, respectively. 9 Year 2000 Readiness Disclosure State of readiness The Year 2000 issue is primarily the result of certain computer systems using a two-digit format rather than four-digits to indicate the year. Such computer systems will, unless modified, be unable to interpret dates beyond the year 1999, potentially causing errors and failures which may disrupt operations of such systems. To address this issue, the Company has developed a comprehensive plan (the "Plan") intended to ensure that all critical systems, devices and applications, as well as data exchanged with customers, trade suppliers and other third parties, have been evaluated and will be suitable for continued use into and beyond the year 2000. In addition to areas normally associated with information technology ("IT"), the Plan also includes areas normally considered outside of IT, but which may utilize embedded microprocessors with potential Year 2000 problems. The Company's Year 2000 Project (the "Project") has been divided into four phases: i)assessment, ii) remediation, iii) testing and certification; and iv) contingency planning. An assessment of all IT systems has been completed. The remediation of in-house systems was completed during the first quarter of fiscal 1999. Key hardware and software systems were tested and determined to be compliant by the end of the second quarter of fiscal 1999. Any remaining work on minor systems and end-to-end testing was completed in the third quarter of fiscal 1999. Hardware upgrades which were planned for growth, some of which also assist in Year 2000 compliance, have been accelerated into fiscal 1999. The Company continues to update its surveys of key vendors, suppliers and service providers for their readiness and will remediate any software or hardware as required. Assessment of the risks associated with vendors and third party service providers' failure to remediate their own Year 2000 issues will continue throughout the duration of the Project. Costs to address Year 2000 issues In addressing the Year 2000 Project, the Company has relied and continues to rely primarily on internal resources, with supervised support from consultants and contractors. Internal costs, which are principally payroll for its information systems personnel, are not separately tracked. The costs for the Year 2000 Project have not been and are not expected to be material.* Costs are consistent with and included in the Company's operating budgets and, based on information gathered to date, future Project costs are not expected to have a material adverse effect on the results of operations in any period, on liquidity, financial position or other information technology project schedules.* Risks of the Year 2000 issues The Company believes that its structured approach toward modifications of existing software and conversions to new software for certain applications, as discussed above, should mitigate significant disruption of its operations due to potential Year 2000 problems.* The Company has also identified areas of potential third party risk, which include communications systems, utilities and elements of the merchandise supply chain, including procurement, transportation and import activities. The disruption of communications systems and utilities could impact the Company's ability to operate its stores. The inability of principal suppliers to be Year 2000 compliant could result in delays in product deliveries from such suppliers and disruption of the Company's distribution channel. There can be no assurance that other entities will achieve Year 2000 compliance or that the Company can timely compensate for its risks should such entities fail to do so. If the Company's internal systems are not adequately remediated, or if necessary modifications and conversions by other companies on whose systems some of the Company's business processes depend are not completed on time, the Year 2000 issue could have a material adverse effect on the Company's operations. The Company's plans for expenditures to achieve Year 2000 compliance and the dates by which Year 2000 compliance will be achieved are based on management's best estimates. These estimates include certain assumptions about future events, including the continued availability of certain resources. However, there can be no assurance that these estimates will be achieved, and because of the complex interdependencies involved with Year 2000 issues, actual results could differ materially from these estimates. Due to the range of possible issues and the large number of variables involved, it is impossible to quantify the potential financial impact of problems if the Company's remediation efforts or the efforts of those with whom it does business are not successful. Contingency plans The Company has developed contingency plans for critical business processes in the event of compliance failure on the part of the Company or its business partners which include communications systems, utilities, suppliers and other service providers. Contingency plans were completed by the end of the second quarter of fiscal 1999 and will continue to be evaluated and updated throughout the year as new information becomes available. However, there can be no assurance that such contingency plans will address all of the Year 2000 issues which the Company might ultimately encounter. 10 Impact of New Accounting Standard In June 1998, the Financial Accounting Standard Board ("FASB") issued Statement of Financial Accounting Standards ("SFAS") No. 133,. "Accounting for Derivative Instruments and Hedging Activities." This statement establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in either assets or liabilities. As amended in June 1999 by SFAS No. 137, this statement is effective for all fiscal quarters of all fiscal years beginning after June 15, 2000. Since the Company does not engage in derivative or hedging activities, application of the standard is not expected to have a material effect on the Company's consolidated financial position, results of operations or cash flows. 11 ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K (a) Exhibits 27 Financial Data Schedule (submitted for SEC use only). (b) Reports on Form 8-K No reports on Form 8-K were filed by the Company during the period covered by this report. 12 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. COST PLUS, INC. ---------------------------------------------- Registrant /s/ John F. Hoffner ---------------------------------------------- Date: December 13, 1999 By: John F. Hoffner Executive Vice President, Administration Chief Financial Officer 13 EX-27 2 FINANCIAL DATA SCHEDULE
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FINANCIAL STATEMENTS OF COST PLUS, INC. FOR THE NINE MONTHS ENDED OCTOBER 30, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 9-MOS JAN-29-2000 JAN-31-1999 OCT-30-1999 7,507 0 0 0 111,369 126,792 112,083 48,719 199,966 59,389 0 0 0 205 118,821 199,966 234,779 234,779 153,367 230,320 0 0 699 3,760 1,467 2,293 0 0 0 2,293 0.11 0.11
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