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."

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