Cosi sees slower sales growth
October 17, 2008
by Eric Schroeder
DEERFIELD, ILL. — Cosi, Inc. said sales for the third quarter ended Sept. 29 totaled $34,930,400, up 0.3% from $34,837,600 in the same period a year ago. Company-owned net restaurant sales rose 0.7% in the quarter to $33,975,000, while system-wide comparable restaurant sales were virtually flat. "Our third-quarter sales results were impacted by the same macro-economic pressures that have affected other restaurant companies," said James Hyatt, president and chief executive officer. "Despite the current challenging consumer environment, we remain focused on delivering an exceptional dining experience to each and every guest, improving our operating margins and working with our franchise partners to drive development and revenue growth."
Cosi will report full third-quarter results on Nov. 6.