EXHIBIT 10.2

                      [COST PLUS LETTERHEAD APPEARS HERE]



FOR IMMEDIATE RELEASE



          COST PLUS, INC. NAMES JOHN HOFFNER EXECUTIVE VICE PRESIDENT
                  OF ADMINISTRATION/CHIEF FINANCIAL OFFICER.


     Oakland, CA - June 8, 1998 - Cost Plus, Inc. (Nasdaq:CPWM) announced today
that John F. Hoffner will join the Company on June 15, 1998 as Executive Vice
President of Administration, Chief Financial Officer, and Secretary.  In
addition to his financial duties, Mr. Hoffner will oversee information systems,
inventory management, and other administrative support areas.  He will report to
Murray H. Dashe, Chairman, Chief Executive Officer, and President.

     Dashe stated, "We are quite pleased to have John Hoffner join us.  His
extensive financial and administrative experience with rapid-growth retailers
fits well with our expansion plans."

     "It is a real pleasure to be returning to the San Francisco Bay Area to
join this exceptional retailing company," said Hoffner.

     Hoffner has nearly 25 years of retail experience.  He joins Cost Plus from
Sweet Factory, Inc. where he served as Executive Vice President and Chief
Financial Officer.  That company has grown from 45  to 240 locations in just
seven years and is the leading specialty candy retailer in the United States. He
has also served as Senior Vice President, Finance and Administration for
Wherehouse Entertainment, Inc. and Vice President/Chief Financial Officer for
Pic N Save Stores (MacFrugal's).  Earlier in his career, he was Controller and
Director of Financial Services for the Mervyn's Division of Dayton-Hudson, and
was an Assistant Controller with Federated Department Stores.  He began his
career with Procter & Gamble.

     Mr. Hoffner received his bachelor of science degree in Industrial
Management from Purdue University and his MBA from Xavier University.  He
currently serves as a director on the Board of the Krannert Management School of
Purdue University.

          Cost Plus, Inc. is a leading specialty retailer of casual home living
and entertaining products.  The company operates 72 stores under the name "Cost
Plus World Market" in 13 states.

               Contact:       Murray Dashe
                              Chairman, CEO, and President
                              (510) 893-7300 ext. 3002