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Mar 31, 2020
Noodles & Co Q1 2020 Earnings Report
Noodles & Company's financial performance declined due to COVID-19 impact and refranchising.
Key Takeaways
Noodles & Company reported an 8.8% decrease in total revenue to $100.3 million, driven by a 7.2% decrease in system-wide comparable restaurant sales due to COVID-19 mandated dining room closures and refranchising. The company strengthened off-premise capabilities and saw digital sales grow by 44.2%. Net loss was $5.8 million, or $0.13 per diluted share.
Total revenue decreased by 8.8% to $100.3 million due to COVID-19 and refranchising.
System-wide comparable restaurant sales decreased by 7.2%, but showed 5.5% growth in the first ten weeks of the year.
Digital sales increased by 44.2%, accounting for 31.0% of total sales.
Net loss was $5.8 million, or $0.13 per diluted share.
Noodles & Co
Noodles & Co
Noodles & Co Revenue by Segment
Revenue by Segment
Restaurant Revenue
CapyFin.comFranchising Royalties and Fees Revenue
CapyFin.com Forward Guidance
Noodles & Company withdrew its financial guidance on March 16, 2020, and does not have any further updates on its fiscal year 2020 expectations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income