Cosi suffers a Q3 loss

Cosi suffers a Q3 loss
Tags: Sandwich
October 18, 2006

DEERFIELD, Ill. — Cosi Inc. reported a weak third quarter ended Oct. 2, 2006.

The fast-casual sandwich chain said comparable same-store sales fell 4.2 percent because of lower customer frequency. The company said third-quarter revenue was $33 million versus $30.8 million last year.

Cosi president Kevin Armstrong said the company has been concentrating on marketing initiatives and new food and beverage to drive more frequent guest visits.

"Importantly, we are adhering to our strict cost disciplines while continuing to execute our growth plans," Armstrong said. "We have seen some early, encouraging signs for rebounding consumer demand in recent weeks, but we believe it is prudent to maintain a cautious outlook for the remainder of the year."

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