Così, Inc. (NASDAQ:COSI) has issued on Wednesday its 2016 Period 7 comparable restaurant sales report.
Comparable Restaurant Sales for P7 and Q2
For the said period, Così had seen a 5.30% aggregate decrease from the same period in 2015. Year-over-year, sales from the company-owned units declined 7.80% while sales from the franchised units rose 0.30%.
During the previous period, comparable restaurant sales dropped 4.50% from the 2015 period 6 results.
Similarly, comparable restaurant sales during the second quarter declined 1.60% year-over-year.
Comparable sales from the 13 Hearthstone units also dipped 0.80% during the four-week period in July. If included in the system-wide performance report, sales would show a drop of 4.60% year-over-year.
Accordingly, the Hearthstone restaurants that Così acquired in April 2015 will officially be included in the system-wide comparable restaurant sales report for the 2016 Period 8, since it will mark their 15th consecutive month under the company.
Long-Term Prospects
RJ Dourney, Così CEO and President, noted that the company is constantly working on improving guest frequency and satisfaction. Dourney believes that focusing on the millennial guest segment is key to optimized traffic trends amid the ongoing challenges in the industry. In line with this, Così is better hospitality with new initiatives that are geared toward drive trial. Further details and long-term visions regarding these prospects, which include guest satisfaction, menu reduction, and digital campaign, are expected to be unveiled next week as the company issues its latest quarterly earnings report. As Dourney said, these initiatives are foreseen to benefit all of the company’s franchise and owned restaurants— they are an integral part of the strategic plans of Così for its franchising arm.
Presently, the new menu is already being used in more than 50% of the company’s restaurants. It is expected to be fully deployed by August 30, promising a faster and more efficient experience for both customers and employees. Meanwhile, the company’s overall digital campaign has already yielded encouraging results, which is why it hopes to explore its potentials further.
