A Second Look: Cosi
Cosi Stock Regains Footing a Day After Plummeting 15 Percent on Lackluster Earnings
Shares of Cosi Inc. regained some traction on Wednesday, a day after the restaurant chain's stock hit a 52-week low on lackluster second-quarter results.
Shares rose 4 cents to $5.55 during morning trading on the Nasdaq. On Tuesday, the stock sank as much as $5.26, or 15 percent, before closing at $5.51. Shares hit their 52-week high of $11.21 on March 29.
On Tuesday, Cosi said same-store sales, or sales in stores open at least one year -- a widely used industry gauge of performance -- grew only 0.1 percent during the quarter ended July 3. Revenue, meanwhile, came in at $32.4 million, below average analyst estimates of $35.3 million, according to a Thomson Financial poll.
ThinkEquity Partners analyst Nicole M. Miller, however, called the results a "mixed bag," in a July 12 note to clients.
External Source - For the complete article click here
Source - AP
Logos, product and company names mentioned are the property of their respective owners.
- Cosi, Inc. Reports 2012 First Quarter Results
- Cosi Signs New Franchisee for Costa Rica
- Cosi, Inc. Reports 2011 Fourth Quarter and Full Year Results
- Cosi, Inc. Regains Compliance With Nasdaq Listing Standards
- Cosi Initiates Consulting Agreement With Industry Veteran Brad Blum
- AFC First Quarter 2012 Net Income Up 21%
- Krispy Kreme Reports Financial Results for the First Quarter of Fiscal 2013
- Cracker Barrel Reports Results for Third Quarter Fiscal 2012 and Increases Full-Year Earnings Guidance
- Country Style Cooking Restaurant Chain Reports First Quarter 2012 Financial Results
- National Restaurant Association Releases Guide to Restaurant Accounting
