Cosi Plans Major Growth

DEERFIELD, IL-Fast-casual restaurant chain plans major growth over the next five years. The company, which operates 92 units in 15 states and Washington D.C., expects that total to rise to about 600 by the end of 2009, executives revealed in their Q4 report. At SG Cowen’s Consumer Conference in New York City last week official said the chain could support a total of 1,400 to 1,900 restaurants.

During the quarter Cosi’s year-over-year same-store sales jumped 8% and for the year they jumped 5.9%. The company’s revenues in 2004 grew to $110.6 million from $107.3 million.

Meanwhile, Cosi received franchise commitments for 24 new stores last year. Company officials plan to add 11 company-owned stores this year and 11 franchised units, though in the future Cosi’s strategy is to have one company-owned store for every three franchised restaurants.