Fast casual releases preliminary third-quarter sales in celebratory announcement
Noodles and Company reported positive, systemwide comp(arable) sales for its September period, ending on the 29th, according to an announcement of preliminary third-quarter results. The fast-casual chain posted comp sales of 0.4 percent in September compared to last year, recovering from a 4.7-percent and 8.2-percent decline for the periods ending July 28 and August 25, respectively. During September, company stores increased comp sales by 1.0 percent, but franchise restaurants dropped by 3.2 percent.
For Noodles and Company’s fiscal third quarter that ended September 29, comp sales decreased 3.8 percent systemwide compared to last year. At company-owned stores, comp sales dropped 3.6 percent and at franchise restaurants, 5.0 percent. Total revenue for the quarter decreased $12M to $106.3M, due in large part to fewer operating weeks from refranchising activities and COVID-19-related temporary closures, noted the Broomfield, Colo.-based company.
Average unit volumes at company stores increased by 2.4 percent compared to last year. In addition, digital sales increased by 146 percent, providing momentum for the recovery.
“Our return to positive comparable sales, aided by impressive digital growth, is evidence of our strong brand positioning to meet the needs of today’s consumer for great tasting healthy food served conveniently where and when guests want it,” said Dave Boennighausen, Noodles and Company chief executive.
Photo credit: Noodles and Company (featured preview image)
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