Boston, MA 05/20/2013 (wallstreetpr) – Friday’s trading session saw Cosi Inc (NASDAQ:COSI) climbing down by 14.66%. It opened at a price of $2.68 which reached an intraday high of $2.85 before heading down to close at $2.55 per share. In excess of 0.536 million shares exchanged hands in the previous trading session. This figure stood above the average volume of 0.480 million that was measured over a 30-day period.
COSI reported an EPS of $0.15 in the first-quarter which was $0.10 below $0.05, the analyst estimate. The quarterly revenue stood at $21.56 million in comparison to the $23.37 million consensus estimate. In the Q1, system-wide comparable restaurant sales recorded an average drop of 4.5% in comparison to the first-quarter of 2012. This was measured for restaurants that have been in operation for over 15 months.
Cosi Inc (NASDAQ:COSI) owns, operates as well as franchises restaurants. These restaurants sell cold and hot sandwiches, flatbread pizzas, breakfast wraps, hot melts, freshly-tossed salads, Cosi Squagels, S’mores as well as other desserts. It also has a range of specialty coffees in addition to other bottled beverages and soft drink beverages. These include premium sparkling and still water. Some locations also have teas, beer and wine. COSI’s restaurants are situated in a variety of trade areas and markets, including residential communities and business districts in urban as well as suburban locations. Cosi Inc (NASDAQ:COSI) offers beverage and food products for four different times of the day- breakfast, lunch, snacks and dinner. As of 2 January 2012, it operated 136 Cosi franchised and owned restaurants that operate in 17 states, the District of Columbia as well as the United Arab Emirates.