Cosi narrows loss in quarter
May 18, 2012
DEERFIELD, ILL. — Cosi, Inc. narrowed its loss during the first quarter with the help of increased comparable restaurant net sales.
For the quarter ended April 2, the company suffered a loss of $1,128,000, which compared with a loss of $2,140,000 during the same quarter of the previous year. Revenue for the quarter was $24,673,000, up 4% from $23,709,000 during the same quarter of the previous year.
“The continued positive sales trend and improved operating margins in the quarter reflect our ongoing efforts to make Cosi a strong and profitable brand,” said Carin Stutz, president and chief executive officer. “Our confidence is strong as we remain focused on driving sales and traffic while simplifying the guest experience, improving our operating margins and examining ways to further reduce our administrative costs.”