We expect Cost Plus, Inc. (CPWM) to report disappointing results for the third quarter. The company's sales trends have been weak for some time, and the current macro economic headwinds are not helping Cost Plus, Inc.'s prospects.
What's more, several retailers have indicated that mall traffic suffered a severe decline in September, which will further pressure the company's results. Its losses are mounting, and its balance sheet remains weak. This combination does not point to a higher stock price.
We reiterate our Sell rating and reduce our target price from $1.00 to $0.50. Cost Plus is scheduled to report third quarter results on November 20.
Read the full analyst report on CPWM
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