Cosi Earnings: Here’s Why Investors are Not Happy Now
Cosi Inc. (NASDAQ:COSI) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 6.6%.
Cosi Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.03 in the quarter versus EPS of $-0.04 in the year-earlier quarter.
Revenue: Decreased 13.71% to $22.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cosi Inc. reported adjusted EPS loss of $0.03 per share. By that measure, the company missed the mean analyst estimate of $-0.02. It missed the average revenue estimate of $23.73 million.
Quoting Management: “Despite the challenging results of the fourth quarter which include the adverse impact of Hurricane Sandy on sales and margins at many of our restaurants,” Carin Stutz, Così’s President and Chief Executive Officer, said, “I want to assure you that we are making good progress on our initiatives to improve the freshness and quality of our menu as well as the ambience and hospitality of the restaurants to unlock the exciting long-term potential of the Così brand.”
Key Stats (on next page)…