Così, Inc : Reports Fourth Quarter and Period 12 2014 Comparable Restaurant Sales
January 07 2015 - 6:00AM
CONTACT: Scott
Carlock
(857)
415-5020
Così, Inc. Reports Fourth Quarter and Period 12 2014
Comparable Restaurant Sales
BOSTON, MA - January 7, 2015 -
Così, Inc. (NASDAQ: COSI), the fast casual restaurant company,
today reported that estimated system-wide comparable restaurant
sales for fourth quarter ended December 29, 2014 as measured for
restaurants in operation for more than 15 months, increased 3.9% as
compared to the fourth quarter of 2013.
The Company also reported that
estimated system-wide comparable restaurant sales for Period 12
2014 as measured for restaurants in operation for more than 15
months, increased 6.6% as compared Period 12 of 2013.
The breakdown in estimated
comparable restaurant sales between Company-owned and
franchise-owned restaurants is as follows:
|
|
For the 4 weeks ended December 29, 2014 |
|
For the 13 weeks ended December 29, 2014 |
Company-owned |
|
6.6% |
|
4.2% |
Franchise |
|
6.6% |
|
3.5% |
Total
System |
|
6.6% |
|
3.9% |
"Cosi® along with the rest of the
industry is benefiting from a tailwind given rising consumer
confidence, positive weather trends and a halo over the fast casual
segment." stated RJ Dourney, Così's President and CEO. "At the same
time, at Cosi® we have made tremendous strides in raising our
guests' satisfaction, positively impacting frequency of visits, and
moving the brand forward. We believe we are well positioned
for 2015." Dourney went on to say.
About Così,
Inc.
Così®
(http://www.getcosi.com) is a national fast casual restaurant chain
that has developed featured foods built around a secret,
generations-old recipe for crackly crust flatbread. This artisan
bread is freshly baked in front of customers throughout the day in
open-flame stone-hearth ovens prominently located in each of the
restaurants. Così's warm and urbane atmosphere is geared towards
its sophisticated, upscale, urban and suburban guests. There are
currently 64 Company-owned and 47 franchise restaurants operating
in sixteen states, the District of Columbia, the United Arab
Emirates, and Costa Rica. The Così® vision is to
become America's favorite fast casual restaurant by providing
customers authentic, innovative, savory food while remaining an
affordable luxury.
The Così® menu features
Così® sandwiches,
freshly-tossed salads, bowls, breakfast wraps, melts, soups,
Squagels®, flatbread
pizzas, S'mores, snacks and other desserts, and a wide range of
coffee and coffee-based drinks and other specialty beverages.
Così® restaurants
are designed to be welcoming and comfortable with an eclectic
environment. Così's sights, sounds, and spaces create a tasteful,
relaxed ambience that provides a fresh and new dining
experience.
"Così," and related marks are
registered trademarks of Così, Inc. in the U.S.A. and certain other
countries. Copyright © 2014 Così, Inc. All rights reserved.
"SAFE HARBOR" STATEMENT UNDER THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. This press
release contains statements that constitute forward- looking
statements under the federal securities laws. Forward-looking
statements are statements about future events and expectations and
not statements of historical fact. The words "believe," "may,"
"will," "should," "anticipate," "estimate," "expect," "intend,"
"objective," "seek," "plan," "strive," or similar words, or
negatives of these words, identify forward- looking statements. We
qualify any forward-looking statements entirely by these cautionary
factors. Forward-looking statements are based on management's
beliefs, assumptions and expectations of our future economic
performance, taking into account the information currently
available to management. Forward-looking statements involve risks
and uncertainties that may cause our actual results, performance or
financial condition to differ materially from the expectations of
future results, performance or financial condition we express or
imply in any forward-looking statements. Factors that could
contribute to these differences include, but are not limited to:
the cost of our principal food products and supply and delivery
shortages and interruptions; labor shortages or increased labor
costs; changes in demographic trends and consumer tastes and
preferences, including changes resulting from concerns over
nutritional or safety aspects of beef, poultry, produce, or other
foods or the effects of food-borne illnesses, such as E. coli, "mad
cow disease" and avian influenza or "bird flu"; competition in our
markets, both in our business and in locating suitable restaurant
sites; our operation and execution in new and existing markets;
expansion into new markets including foreign markets; our ability
to attract and retain qualified franchisees and our franchisees'
ability to open restaurants on a timely basis; our ability to
locate suitable restaurant sites in new and existing markets and
negotiate acceptable lease terms; the rate of our internal growth
and our ability to generate increased revenue from our existing
restaurants; our ability to generate positive cash flow from
existing and new restaurants; fluctuations in our quarterly results
due to seasonality; increased government regulation and our ability
to secure required government approvals and permits; our ability to
create customer awareness of our restaurants in new markets; the
reliability of our customer and market studies; cost effective and
timely planning, design and build out of restaurants; our ability
to recruit, train and retain qualified corporate and restaurant
personnel and management; market saturation due to new restaurant
openings; inadequate protection of our intellectual property; our
ability to obtain additional capital and financing; adverse weather
conditions which impact customer traffic at our restaurants; and
adverse economic conditions. Further information regarding factors
that could affect our results and the statements made herein are
included in our filings with the Securities and Exchange
Commission.
Additional information is available
on Così's website at
http://www.getcosi.com in the investor relations section.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Così, Inc via Globenewswire
HUG#1884850