Cosi third-quarter sales fall 10%
October 15, 2010
DEERFIELD, ILL. — Third-quarter revenues at Cosi Inc. fell 10% to $27,116,000 from $30,033,000, reflecting the sale of 13 company-owned restaurants to a franchisee. System-wide comparable sales, meanwhile, rose 5.2% in the quarter ended Sept. 27. The gain was driven by a 6.6% gain in company-owned restaurant sales. “We believe we continue to benefit from our expanded marketing efforts to broaden our consumer reach and drive traffic in multiple dayparts,” said James Hyatt, president and chief executive officer.