Noodles & Company (Nasdaq: NDLS) suffered a net loss of $37.5 million in 2017 — a total that was roughly half of its 2016 loss.
The numbers demonstrate the progress the fast-casual restaurant is making in its efforts to turn the business around and to produce positive same-store sales growth by the end of 2018, CEO Dave Boennighausen said Wednesday.
The Broomfield-based chain on Wednesday reported revenue of $112.8 million for the fourth quarter of 2017 — a 12.8 percent year-over-year decline — and $456.5 million for the full fiscal year, representing a 6.4 percent drop from 2016. Its net loss was 1 cent per diluted share for the quarter and $1.20 per diluted share for the year.
However, those figures, which partly reflected the closing of 55 under-performing stores during the first quarter of 2017, represented significant improvements over one year earlier. Net loss per diluted share reached $1.63 in the fourth quarter of 2016 and $2.58 per diluted share for all 2016.
Read more at the Denver Business Journal: http://bit.ly/2HCrje9
