Restaurant operator Cosi (NASDAQ:COSI) is positioned in the fast-growing "fast casual" segment of the restaurant industry (~5-6% annual revenue growth, vs. 2% for full service restaurants). Competitors such as Panera Bread (NASDAQ:PNRA) and Chipotle (NYSE:CMG) have found great success here, but Cosi has been consistently unprofitable, as described in the company's most recent 10-K. The company expanded rapidly in the first decade of its existence, but the 2008 financial crisis and recession forced management to retrench. Despite Cosi's disappointing track record, I believe that the company's new management team is putting Cosi on the right path. Financial results are improving, and I expect Cosi to post its first annual profit in 2013. Moreover,...
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