Cost Plus, Inc. : Reports 2011 Holiday Sales

Oakland, CA - January 5, 2012 - Cost Plus, Inc. (Nasdaq: CPWM) announced its sales for the nine-week holiday period ended December 31, 2011 were $295.5 million compared to $277.5 million for the comparable nine-week holiday period in fiscal 2010. Same store sales for the nine-week holiday period of fiscal 2011 increased 7.4% on top of a 7.0% increase for the comparable nine-week holiday period of fiscal 2010. The increase in same store sales for the nine-week holiday period of fiscal 2011 was attributable to a 3.5% increase in customer count and a 3.7% increase in the average ticket per customer.

President and Chief Executive Officer, Barry Feld, commented, "We are pleased with our holiday sales and gross profit results and are confident that we will meet or exceed the high end of our previously announced fourth quarter and full year fiscal 2011 sales and earnings guidance."

Cost Plus, Inc. is a leading specialty retailer of casual home living and entertaining products. As of January 5, 2012, the Company operates 258 stores in 30 states.

This press release contains forward-looking statements that are based on current expectations and are subject to various risks and uncertainties, which could cause actual results to differ materially from those forecasted. Such forward-looking statements include, but are not limited to, our ability to meet or exceed the high end of our previously announced fourth quarter and full year fiscal 2011 sales and earnings guidance. The risks and uncertainties include, but are not limited to: changes in economic conditions that affect consumer spending; changes in the competitive environment; currency fluctuations; timely introduction and customer acceptance of merchandising offerings; foreign and domestic labor market fluctuations; interruptions in the flow of merchandise; changes in the cost of goods and services purchased including fuel, transportation and insurance; a material unfavorable outcome with respect to litigation, claims and assessments; unseasonable weather and other seasonal considerations; the effects associated with terrorist acts; and changes in accounting rules and regulations. Please refer to documents on file with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, for a more detailed discussion of the Company's risk factors. The Company does not undertake any obligation to update its forward-looking statements.

Contact:
Jane Baughman
Cost Plus, Inc.
[phone]