Noodles & Company (Nasdaq: NDLS) suffered further losses during the third quarter, but executives of the Broomfield-based restaurant chain said Thursday they believe they have appropriate plans in place to reverse those trends in 2018.
Revenue at the fast-casual restaurant fell 6.9 percent during the three months ending Oct. 3 to $114.2 million, caused primarily by the chain’s closure of 55 under-performing locations earlier this year.
That left Noodles with a net loss of $8.3 million or 20 cents per diluted share — numbers that improved from the loss of $9.8 million or 35 cents per diluted share during the third quarter of 2016.
While CEO Dave Boennighausen acknowledged during an earnings call that comparable sales “remain a large opportunity,” he emphasized that trends are improving for the chain that has closed 71 restaurants over the past two years, lost $71.7 million in 2016 and bid goodbye to its long-time CEO 16 months ago.
Read more at the Denver Business Journal: http://bit.ly/2melQUG