News

Cosi comps up slightly

March 19, 2007

DEERFIELD, Ill. — Sales at Così Inc. restaurants open at least 15 months increased 0.3 percent for the fiscal year ended Jan. 1. The increase consisted of a 3.1 percent increase in check averages offset by a 2.8 percent decline in transaction counts compared with the previous year, the company said.

Revenues for the company's fourth quarter increased 11 percent to $31.8 million, compared with revenues of $28.6 million for 4Q '05.

For the year, revenues at the 130-unit chain increased 8 percent to $126.9 million compared with revenues of $117.2 million FY '05.

Cosi's net loss narrowed to $4.8 million for the fourth quarter compared with a net loss of $6 million in 4Q '05. For the year, Cosi recorded a net loss of $12.3 million compared with a net loss of $13.1 million in 2005.

Così finished the year with a total of 123 locations consisting of 110 company-owned locations and 13 franchised locations. Cosi opened 21 company-owned locations and eight franchised locations during 2006, including two company-owned locations that were refranchised in the fourth quarter.

Five locations were closed during the year.