Business
Noodles & Company Announces Preliminary Revenue Results for the Fourth Quarter of 2024
Company to Host Investor Meetings at 27th Annual ICR Conference BROOMFIELD, Colo., Jan. 13, 2025 (GLOBE NEWSWIRE) -- Noodles & Company (Nasdaq: NDLS) today
About this update from Noodles & Company
[{"type":"text","content":"Company to Host Investor Meetings at 27th Annual ICR Conference\nBROOMFIELD, Colo., Jan. 13, 2025 (GLOBE NEWSWIRE) -- Noodles & Company (Nasdaq: NDLS) today released preliminary, unaudited sales results for the fourth fiscal quarter ended December 31, 2024. Preliminary Fourth Quarter of 2024 Sales Results Compared to the Fourth Quarter of 20231: Fourth quarter system-wide comparable sales increased 0.8%, comprised of a 0.5% increase at company-owned restaurants and a 1.9% increase at franchise restaurants.Fourth quarter company-owned average unit volumes were flat versus prior year at $1.3 million.Fourth quarter company-owned digital sales increased 5.6%. _____________________1 These sales results are preliminary and unaudited, have not been reviewed by the Company’s independent registered public accountants, and remain subject to the completion of normal quarter-end accounting procedures and adjustments and are subject to change. Drew Madsen, Chief Executive Officer of Noodles & Company, remarked, “We are pleased with our significant sales improvement during the fourth quarter compared to the third quarter, outperforming the BlackBox Fast Casual Index on both sales and traffic, with comp growth accelerating through the quarter. As we expected when we reported our third quarter results, our improved comp sales trajectory in the fourth quarter was driven by a combination of factors, including the rollout of our three new menu items, the promotional offers that we ran during the first two months of the quarter, and the renewed momentum in our third-party delivery channel. We are especially pleased that we saw the strongest comp sales performance during the last four weeks of the fourth quarter after our promotional activity had ended.” Madsen concluded, \"Looking ahead, we believe we have positioned the Company to capitalize on the significant opportunities ahead. Our comprehensive menu transformation is progressing as planned, and we continue to drive traffic through our digital channels and expansive loyalty program. In addition, by strategically reducing our planned capital expenditures in 2025, we believe we are well-positioned to improve the strength of our balance sheet. Overall, we are pleased with the fourth quarter recovery of our sales and traffic performance and believe we have a strong foundation to begin 2025.\" Key D...