June 13, 2005

Chain Update

Brinker, Cosi and Luby’s are among the chain operators that announced significant financial or operational news in recent days.

Brinker International announced its same-store sales for the four-week period that ended June 1. Overall, the company’s same-store sales increased by 5.8% vs. the year-ago period. Same-store sales increased by 6.8% at Chili’s, 6.7% at On The Border, 3.5% at Macaroni Grill and 2.5% at Maggiano’s.

BJ’s Restaurants opened a location in Tucson, Ariz., the company’s second location in that state. The chain plans to open two additional locations in the Phoenix area in the next 12 months, and is on track to open at least eight units in 2005.

Luby’s announced financial results for its fiscal third quarter, which closed on May 4. The company’s sales grew by 6.5% vs. the year-ago period to $77 million. Net income reached $3.7 million, up from $375,000 a year earlier.

Cosi Inc. priced a public offering of more than 5 million shares at $6.30 per share. The company said it intends to use the proceeds to fund new restaurants and for general corporate purposes.

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