Cosi Inc.'s same-store sales up 2.2 percent in 2Q

Analysts surveyed by Thomson Financial had forecast quarterly sales of $35.2 million for the three months ended June 30. In the year-ago period, Cosi reported sales of $35.4 million.

Sales at company-owned stores open at least 15 months were up 2.3 percent, while franchise-operated stores saw sales up 1.5 percent. Same-store sales are a key metric for retailers, since they measure growth at existing locations instead of newly-opened ones.

Revenue from company-owned restaurants grew 3.3 percent to $36.2 million, and franchise fees and royalty revenue rose to $515,800 from $404,800 in the prior-year period.

Cosi expects to report second-quarter earnings on Aug. 7.

The company has 102 company-owned and 43 franchise restaurants in 18 states, the District of Columbia and the United Arab Emirates.

In afternoon trading, shares rose 8 cents, or nearly 4 percent, to $2.25.