Severe weather hinders Cosi results
by Eric Schroeder
DEERFIELD, ILL. — Severe winter weather across several East coast markets contributed to a loss of $3,054,000 in the first quarter ended March 29 at Cosi Inc. This compared with a loss of $3,326,000 in the first quarter of fiscal 2009. Total revenues fell 4% to $27,599,000 from $28,666,000 during the previous year. Cosi said company-owned net restaurant sales fell 3.7% in the quarter, to $27,074,000.
“We recovered in March with an overall system-wide positive comparable sales performance,” said James Hyatt, president and chief executive officer. “We continue to focus on driving sales and improving operating margins, while remaining diligent about controlling restaurant and administrative costs.”