Così (COSI) Reports Period 2 Comps Up 5.5%

Così, Inc. (NASDAQ: COSI), the fast casual restaurant company, today reported that estimated system-wide comparable restaurant sales for the 2016 Period 2, as measured for restaurants in operation for more than 15 consecutive months, recorded an aggregate increase of 5.5% as compared to the 2015 Period 2. The breakdown in estimated comparable restaurant sales between Company-owned and Franchise-owned restaurants are as follows:

The 13 Hearthstone restaurants acquired by the Company on April 1, 2015, will be included in the reported Company-owned comparable restaurant sales results when they have been in operation as Company-owned restaurants for more than 15 consecutive months. The Company began disclosing in the 2015 Period 10, comparable sales for the acquired restaurants separately. For the 2016 Period 2, the Hearthstone locations recorded an aggregate increase in comparable restaurant sales as follows:

“I continue to see the momentum building in traffic and sales across the system since the middle of the 4th quarter last year,” stated RJ Dourney, Cosi’s President and CEO. “Recognizing that we enjoyed the benefit of mild weather in the Northeast versus the weather challenges of the same period in 2015, our normalized trends are ahead of our expectations, and we are off to a strong start in March. More importantly, not only are we sustaining those gains, we are also seeing sizable gains in markets that were not previously positive,” Dourney went on to say.

Dourney then addressed the Company’s operating focus, stating, “These results tie directly to the 2016 operating strategy we have consistently shared and remain laser-focused on. We are driving traffic, moving towards cash generation, growing the franchise system, and strengthening our talent and culture,” said Dourney.

Teleconference and Webcast InformationCosì expects to report 2015 fiscal year-end results after the close of market on March 24, 2016, and to host an investor teleconference and webcast at 5:00 p.m. Eastern Time on that day to discuss the Company's results for the 2015 fiscal year.

AudioDial-In Number: 877 516 3513Secondary (International) Dial-In Number: 281 973 6108Participant Code: 63339310Note: Participants should dial in a few minutes prior to the start time

WebcastWebsite link: http://ir.getcosi.comNote: Live, then archived for one year

ReplayDial-In Number: 855 859 2056Secondary Dial-In Number: 404 537 3406Participant Code: 63339310Note: Available from March 24, 2016 (at 8:00 p.m. ET) until March 31, 2016 (11:59 PM ET)

You May Also Be Interested In

• Braemar Hotels responds to Al Shams court filing
• AmpliTech joins AI-RAN Alliance for wireless network AI integration
• Steel Partners challenges InMode board over governance and disclosure gaps