Noodles & Company loss widens in 1Q
Noodles & Company reported on Tuesday a wider loss in the first quarter, amid continued sales declines and restaurant closures.
The fast-casual operator reported a $27.8 million loss in the quarter ended April 4, or 99 cents per share, compared with a loss of $2.4 million, or 9 cents per share, the previous year.
Same-store sales fell 2.5 percent at company restaurants, and increased 1.1 percent at franchised locations.
Much of the loss came from the impact of 55 unit closures. Denver-based Noodles & Company raised $50 million from two private-equity firms, L Catterton and Mill Road Capital, to