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Jun 30, 2020
Noodles & Co Q2 2020 Earnings Report
Noodles & Company reported a consistent sales recovery led by digital and off-premise business, with recovery continuing into Q3.
Key Takeaways
Noodles & Company announced its Q2 2020 financial results, showing a sales recovery driven by digital and off-premise business growth. The company's average unit volumes were nearly flat year-over-year in July, and digital sales accounted for 74% of total sales, growing 135% year-over-year. The company reported a net loss of $13.5 million, but maintains a strong financial position with $62.1 million in cash on hand.
Total revenue was $80.2 million compared to $120.2 million.
Comparable restaurant sales decreased 30.9% system-wide.
Digital sales grew 135% and accounted for 74% of sales.
Net loss was $13.5 million, or $0.30 per diluted share.
Forward Guidance
Due to the ongoing uncertainty surrounding the impact of COVID-19, the company does not have any further updates on its fiscal year 2020 expectations following the withdrawal of its financial guidance on March 16, 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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