Cosi posts improved comps in 2nd-Q

DEERFIELD Ill. Cosi Inc. reported on Thursday that systemwide same-store sales grew 2.2 percent in the second quarter ended June 30 as sales improved at both company and franchised stores.

Same-store sales rose 2.3 percent at company units and 1.5 percent at franchised stores, said the parent of the fast-casual concept, which is known for its flat-bread sandwiches.

Cosi, which operates 102 restaurants and franchises 43 others, said total revenue for the quarter grew 3.6 percent to $36.7 million, compared with revenue of $35.4 million in the year-ago second quarter.

Cosi said it would release full results on Aug. 7.

In midday trading on Thursday, Cosi's stock was up nearly 20 percent, at $2.60 a share.