DEERFIELD, IL-Sandwich chain Cosi is significantly stepping up its store-opening pace this year with between 45 and 55 new units on tap. That number is nearly double the 27 the company opened last year, bringing its total portfolio to 123 locations.

Also increasing is the number of franchise-operated restaurants in the chain. Of its total store base, 13 are franchised. In contrast, only 14 of the new stores opening this year will be operated by the locally-based company.

Executives also announced a leasing agreement to develop future stores in the Persian Gulf, targeting wealthy European tourists. However, the firm will “continue to focus on our US franchise developments first and foremost,” said William Koziel, Cosi’s CFO, during its fourth-quarter conference call.

New units opening will take shape in a new prototype store Cosi is rolling out. But Koziel says that there are no plans to retrofit the entire chain, though some older stores this year will get a “fresher” look, with new paint, furniture, awnings and other additions.

Cosi’s same-store sales inched up 0.4% year over year during the quarter, which ended Jan. 1, while total revenues increased 8.3% to just over $31.4 million. The company reported a fourth-quarter net loss of $12.3 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.