If you need some new dining room furniture, now's the time to head to Cost Plus. The retailer of imported and affordable home furnishings, accessories, exotic food, wine, and other goodies has a big sign in its window at Mt. Diablo and California boulevards: Save up to 50 percent on all dining tables, chairs, benches and more.
The signs for this sale come after some disheartening news for the Oakland-based chain. Its shares plunged 19 percent after it warning of large losses in the third quarter. The Contra Costa Times says that the chain expects to lose up to $24 million in the third quarter of this year, after posting losses of $20.8 million in the second quarter, and $21 million in the third quarter of 2008.
I've reported on Cost Plus' troubles before, and how its new CEO was trying to turn things around and get the retailer back to its roots, to what it always did best, selling affordable international home goodies, as opposed to trying to be another Pottery Barn.
These days, Cost Plus faces the same tough climate as other retailers: in the recession, consumers continuing to tighten their spending.
I like Cost Plus. For my son's start of middle school, we repainted his room and bought him a new book shelf and dresser. Yes, we got a major deal. We also picked up some Thai curry and this Japanese soda that my son is fond of. At Christmas time, Cost Plus has some of the best wrapping paper around.
I hope this store makes it. It's a local, East Bay business, and I have some friends who work for the company. Also, its loss would be a huge one for Walnut Creek, given its prominent location in Olympic Place.