News

Cosi Inc. sees increase in fourth-quarter sales

January 23, 2011

Così Inc. has reported that system-wide comparable restaurant sales for the 2010 fourth quarter has increased 4.5 percent compared to the fourth quarter of 2009. Company-owned comps increased 6.1 percent while same-store sales at franchise-operated restaurants rose 1.8 percent for the quarter.

 Così noted that the company-owned comparable restaurant sales increase for the 2010 fourth quarter was comprised of a 3.8 increase increase in traffic and a 2.3 percent increase in average check. 

Company-owned comparable sales are based on sales from restaurants that have been operating as Così for more than 15 months. Franchise-operated comparable sales are based on sales, as reported by franchisees, from restaurants that have been operating as Così for more than 15 months.

"We are pleased with the continued positive sales trend we experienced in the fourth quarter as December marked our tenth consecutive month of system-wide comparable sales growth," said James Hyatt, Così's president and CEO. "We believe that we continue to benefit from our marketing initiatives to broaden our consumer reach and drive traffic in all dayparts."

Company-owned net restaurant sales were $24.6 million for the fourth quarter compared to $27.7 million reported during the same period last year. The company said the resulting $3 million decline related primarily to the sale of 13 company-owned restaurants to a franchisee during the second quarter of 2010. 

Così's total revenues for the 2010 fourth quarter were $25.3 million, down from $28.2 million reported in the 2009 fourth quarter. The deduction also has been largely attributed to the sale of those company-owned restaurants. 

Teleconference and Webcast Information

Così expects to report fourth quarter and full year results after the market close March 28, 2011, and will host a teleconference and webcast at 5 p.m. Eastern time on that day to discuss the company's results.  

1. Dial In Number: 866-271-5140
2. International: 617-213-8893
3. Code: 48404126

   Webcast
   Website link: http://investors.getcosi.com.

    

   Replay

   1. Dial In Number: 888-286-8010
   2. International: 617-801-6888
   3. Code: 52874052 
   4. Available until: April 4, 2011