Cosi Inc. (COSI) Tops Q2 Revenue Consensus; Reports Increase in Same-Store Sales

July 17, 2008 12:27 PM EDT

Cosi Inc. (NASDAQ: COSI) reported that total revenues for the 2008 second quarter grew 3.6% to $36,722,800 from $35,448,100 in the 2007 second quarter. Company-owned net restaurant revenues, excluding discontinued operations, grew 3.3% in the quarter to $36,207,000, compared to $35,043,300 in the previous year's quarter. (Q2 revenue consensus is $35.21 million)

System-wide comparable restaurant sales for the 2008 second quarter as measured for restaurants in operation for more than 15 months recorded an aggregate 2.2% increase compared to the second quarter of 2007. The breakdown in comparable sales between Company-owned and franchise-operated restaurants are as follows:

For the 13 weeks ended June 30, 2008:

Company-owned +2.3%, Franchise-operated +1.5%, and Total System +2.2%

Cosi, Inc. owns, operates and franchises convenience restaurants. The Company’s restaurants sell hot and cold sandwiches, salads, Cosi bagels, pizzas, S’mores and other desserts, and a variety of coffees along with other soft drink beverages, teas and alcoholic beverages.[SM]

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Earnings
Retail Sales

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