Noodles & Company reports developments tied to its fast-casual restaurant concept, which serves cooked-to-order noodle and pasta dishes, soups, salads and appetizers through company-owned and franchised restaurants. Recurring updates cover quarterly and annual financial results, comparable restaurant sales, average unit volume trends, restaurant contribution margin, adjusted EBITDA, debt and liquidity disclosures, and business outlook commentary.
Company news also includes limited-time menu launches and collaborations, including globally inspired noodle offerings, value-oriented meal bundles and returning seasonal dishes. Other recurring themes include off-premise dining activity, franchise and company-owned restaurant performance, shareholder voting matters, governance updates and capital-structure actions affecting the Class A common stock.
Noodles & Company (NASDAQ: NDLS) is offering a limited-time promotion: a free kids' meal with the purchase of any regular entrée every day, any time, for families. Guests can redeem in-restaurant, via the Noodles app, or online at Noodles.com using code KIDSEATFREE. Kids' meal choices include Wisconsin Mac & Cheese, Spaghetti & Meatballs, Buttered Noodles, or Grilled Chicken Breast with Marinara, plus two sides and a drink. The company also highlights its Goodness Guarantee exchange policy and encourages joining Noodles Rewards for a free regular entree after first purchase and additional member offers.
Noodles & Company (NASDAQ: NDLS) announces a -time offer of free kids' meals with the purchase of any regular entrée, available any day and time. This promotion, accessible in-restaurant, via the Noodles app, or online using the code KIDSEATFREE, aims to support families during the busy fall season. The offer includes popular kids' menu items like Wisconsin Mac & Cheese and Spaghetti & Meatballs, along with sides and a drink.
CEO Drew Madsen emphasizes the company's commitment to providing value and nourishment to families. The promotion aligns with Noodles' Goodness Guarantee program, allowing customers to exchange dishes they don't love at no cost. Additionally, the company encourages customers to join the Noodles Rewards program for more benefits, including a free entrée for new members and access to exclusive offers.
Noodles & Company has partnered with Care Bears™ to launch a -time Care Bears Share Menu starting August 28, 2024. This collaboration aims to promote sharing and caring during the back-to-school season. The menu features two options:
1. Care Bears Besties Meal: A large entrée, small entrée, and Cheer Crispy for $14.95.
2. Share Your Care Junior Meal: A small entrée, kids' drink, and collectible Care Bears mini plush for $8.95.
The partnership aligns with both brands' values of inclusivity, kindness, and friendship. Noodles & Company's Goodness Guarantee program allows customers to exchange dishes at no cost if unsatisfied. The promotion runs through September 9, coinciding with Care Bears' Share Your Care Day.
Noodles & Company (NASDAQ: NDLS) has announced that its Board of Directors granted an equity inducement award to Scott Davis, the company's new Chief Concept Officer. The award, consisting of 94,595 time-based RSUs, was granted outside of the Company's 2023 Stock Incentive Plan and in accordance with Nasdaq Listing Rule 5635(c)(4). This equity award is considered material to Mr. Davis's acceptance of employment with Noodles & Company.
The RSUs will vest over a four-year period, with one-fourth vesting on each anniversary of Mr. Davis's start date, contingent upon his continued employment with the company. This grant demonstrates Noodles & Company's commitment to attracting top talent and aligning executive interests with those of shareholders.
Noodles & Company (NDLS) reported its Q2 2024 financial results, showing mixed performance. Total revenue increased 1.8% to $127.4 million, with system-wide comparable restaurant sales up 2.0%. However, the company posted a net loss of $13.6 million, or $0.30 loss per diluted share, compared to a $1.3 million loss in Q2 2023. Restaurant contribution margin improved to 15.5%, and Adjusted EBITDA rose to $9.2 million. The company opened five new restaurants and refranchised six.
Despite challenging consumer conditions, CEO Drew Madsen highlighted progress on strategic priorities and improved operations. However, Noodles & Company revised its 2024 guidance, projecting total revenue of $495-505 million and -2% to flat comparable restaurant sales growth.
Noodles & Company (NASDAQ: NDLS) has announced it will host a conference call on August 7, 2024, at 4:30 p.m. ET to discuss its second quarter 2024 financial results. The call will be hosted by Drew Madsen, CEO, and Mike Hynes, CFO. A press release detailing the financial results will be issued after market close on the same day. Interested parties can access the live conference call through a registration link, and it's recommended to join 10 minutes before the start time. The call will also be webcast live on the company's investor relations website, with an archive available shortly after the call concludes.
Noodles & Company is celebrating National Mac & Cheese Day throughout July with the return of Macapalooza, featuring a new -time Mac & Cheese Mashup menu and exclusive rewards for Noodles Rewards members.
Starting July 1, members can enjoy a $1 Side Mac with purchases of $15 or more. The new Mac & Cheese Mashup menu, available online only, includes combinations like 4-Cheese Alfredo Mac, Cheesy Broccoli Mac, Crispy Jalapeno Mac, and Korean Meatball Mac & Cheese, with prices starting under $9.
On July 14, National Mac & Cheese Day, members can get items from the Mashup menu for just $5. Rewards members can also earn double points on Mac & Cheese purchases throughout July. New members signing up can receive a free regular entree after their first purchase.
The Goodness Guarantee ensures guests can exchange their dish if they are not satisfied. For more details, visit Noodles.com.
Noodles & Company (NASDAQ: NDLS) has appointed Scott Davis as Chief Concept Officer, effective June 19, 2024. Davis previously served as Chief Concept Officer at Panera Bread and President and Chief Concept Officer at CoreLife Eatery. His contributions at Panera included developing key innovations that bolstered lunch and dinner traffic, and he led culinary development, restaurant design, and sustainability efforts. At CoreLife Eatery, he played a important role in the brand's growth and innovation. Davis's extensive experience is expected to drive Noodles & Company's menu innovation and sustained, profitable growth.
Noodles & Company (NDLS) has appointed Britain Peakes to its Board of Directors, effective June 10, 2024.
Ms. Peakes, a seasoned finance and investment professional, currently serves at Hoak & Co. and brings extensive experience in private and public markets, including real estate, private equity, and public equity sectors.
This appointment is part of a Support Agreement with Hoak Public Equities, which owns about 9.48% of Noodles & Company's outstanding shares. The Agreement includes customary standstill, voting, and confidentiality commitments.
Ms. Peakes expressed her enthusiasm for contributing to the company's strategic growth, while Jeff Jones, Chairman of the Board, highlighted her finance and strategic acumen as valuable assets.
Noodles & Company (NDLS) announced their first quarter 2024 financial results, reporting a 3.7% decrease in total revenue, a 5.4% decrease in comparable restaurant sales, and a net loss of $6.1 million. Operating margin was (3.4)% and restaurant contribution margin was 13.1%. Despite challenges, CEO Drew Madsen expressed optimism for the future, highlighting improvements in sales and traffic trends.