Cost Plus builds to the day when e-commerce will generate $100 million 2011/08/31 at 1:15 am
Although the company didnt provide much detail, Cost Plus Inc. sees a $100 million future in e-commerce.
On a recent second quarter earnings call CEO Barry Feld told Wall Street analysts that Cost Plus, No. 424 in the Internet Retailer Top 500 Guide, is putting together an ambitious expansion plan for its online channel.
Cost Plus, which generated Internet Retailer-estimated web sales of $17.0 million in 2010, also wants to eventually build its e-commerce channel into a $100 million operation. The company continues to move ahead with investment in its growth initiatives: sales-per-square-foot productivity improvements, expansion of the Internet business, a conservative new store opening program, and other initiatives related to wholesale and retail concepts, Feld told analysts. There will be good quarters and tough quarters, but that will not prevent the company from reaching its target of $270 sales per selling square foot and judiciously growing the chain up to 500 high-quality retail locations over the longer term, and developing $100-plus million and fully integrated Internet business.