Financing

Noodles posts $8.3M loss for Q3

Noodles & Co. narrowed its losses to a net of $8.3 million for the third quarter, the result in part of a 3.5% slip in same-store sales.

The operator and franchisor of 479 fast-casual restaurants suffered a net loss of $9.8 million in the year-ago quarter.

Revenues for the most recent 12-week period declined 6.9% to $122.7 million. The company attributed that decrease to the closing of 55 restaurants earlier in the year. Noodles took an impairment charge of $8.9 million in the third quarter on 18 restaurants.

"Over the past 12 months we have taken significant steps to improve the company's fundamentals by solidifying our leadership team and returning our focus to operations,” CEO Dave Boennighausen said in a statement. “We believe these actions have had significant impact across our organization."

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Financing

This is why the restaurant business is in a value war right now

The Bottom Line: Same-store sales have slowed markedly for the past year as customers shifted to other options. And now operators are furiously working to get them back.

Financing

Saladworks-parent WOWorks is shopping for new brands to buy

The platform company is almost finished assimilating its existing six brands. Now it's time to add to the family, said CEO Kelly Roddy.

Financing

2 more reminders that the restaurant business is risky

The Bottom Line: Franchising is no less risky than opening your own restaurant. Just ask former NFL player David Tyree and the former president of McDonald's Mexico.

Trending

More from our partners