DEERFIELD, Ill. (
) -- Shares of
gained 5.2% Thursday after the café restaurant chain said it returned to profitability in the recent quarter.
Cosi said it earned $3.8 million, or 7 cents per share, in the recent quarter, compared with a net loss of $969,000, or 2 cents per share, in the year-earlier period.
Systemwide comparable same-store sales, or sales at stores open at least 15 months, increased by 3.1% in the second quarter, including a 3.3% improvement at company-owned stores and 2.6% at franchised locations.
Consolidated revenue fell 6.3% to $29.6 million, attributed to thirteen company-owned restaurants in Washington D.C. that were sold to a franchisee during the second quarter.
A roster of fast food and casual restaurant stocks, including
Wendy's Arby's Group
posted quarterly results Thursday, dishing up a mixed plate of results.
Coffee-and-donut chain Tim Hortons posted
, thanks to strong same-store sales growth in its Canadian stores. Chili's operator Brinker International missed top- and bottom-line expectations but
. Wendy's Arby's Group
Fast food behemoth
, which competes with Tim Hortons for market share in the coffee-drinks space and with Wendy's Arby's in the fast food sector, said earlier this week its comps surged 7% in July, fueled in large part by its beverage business. It was the burger-and-fries chain's biggest monthly increase by that measure since April of 2009.
The Golden Arches said last month it
in its recent quarter, helped by its dollar menu and an expanded list of coffee drinks, but the figure came up short of expectations and McDonald's stock fell more than 2%, closing below $70 per share the day it released the quarterly results. McDonald's shares rebounded since then, hitting an all-time high of $73.33 in trading Monday, and closing at $72.06 Thursday.
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