Six months into a fresh turnaround attempt at struggling sandwich chain Cosi, the changes appear to be resonating with investors.
Since CEO R.J. Dourney took the helm in March, Cosi's stock has rebounded roughly 140 percent to $2.40 (which, still, is a fraction of its all-time high of $44.84).
"Anybody that takes the time to come in, get under the covers, see what we're doing—you see how successful this could be," he said in an interview.
To be sure, the company faces a huge challenge. Its net loss more than doubled in the most recent quarter. Revenue fell, while general expenses and those related to lease terminations rose. A recent financing bolstered the company's cash reserves, which were still less than half of where they stood a year earlier.