Skip navigation
Così 2Q profit, revenue sees steep decline

Così 2Q profit, revenue sees steep decline

Unit closures, negative same-store sales take toll on fast-casual chain

Così Inc. swung to a net loss of $2.14 million, or negative 12 cents per share, in the second quarter ended July 1. Lost revenue and asset impairment charges from six company-owned restaurants and seven franchised units combined with negative same-store sales at units continuing to operate. Chief executive Stephen Edwards, who replaced Carin Stutz following her resignation on June 12, said the company would rededicate its focus on improving customer service at its 121 fast-casual restaurants to reverse the sharp decline in revenue.

NET INCOME

Result: $2.14 million, or negative 12 cents per share
% Decrease: 2,673% (from $77,000, or 1 cent per share)

REVENUE

Result: $23.4 million
% Decrease: 11% (from $26.3 million)

SAME-STORE SALES

% Decrease at company-owned units: 3.6 percent


% Decrease at franchised units: 1.4 percent


Source: Company report

RELATED:
NRN Social 200: Così picks up pace on Facebook
Così pop-up unit aims to launch growth
Same-store sales at NRN.com

Contact Mark Brandau at [email protected].
Follow him on Twitter: @Mark_from_NRN

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish