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Noodles & Company (NASDAQ: NDLS) is a prominent player in the fast-casual restaurant segment, known for its globally-inspired noodle bowls, soups, salads, and appetizers. Founded in 1995 and headquartered in Broomfield, Colorado, the company aims to deliver 'Uncommon Goodness' through its diverse menu, excellent customer service, and values-centric culture.
Core Business and Products:
Noodles & Company offers a wide range of cooked-to-order dishes. Signature items include the beloved Wisconsin Mac & Cheese, Buffalo Chicken Mac, and the new Chicken Prosciutto Tortelloni with Smoked Gouda. The company continuously innovates its menu to meet diverse dietary preferences, featuring fresh ingredients and premium quality.
Recent Achievements:
In early 2024, the company enhanced its World-Famous Mac menu by adding 50% more cheese sauce to every bowl, a move that has been highly appreciated by its clientele. Additionally, it reintroduced the popular LTO, Steak Stroganoff, which sold over 110,000 bowls within the first two weeks of its relaunch.
Expansion and Partnerships:
Noodles & Company is expanding its footprint through strategic franchise agreements. In February 2024, a new location was opened in Williston, North Dakota, operated by Little Deep Pasta. By April 2024, a six-unit franchise agreement was signed with DND Group Inc. to expand in the Portland, Oregon area.
Corporate Values and Culture:
The company operates on four core values: We Care, We Are Passionate, We Show Pride, and We Love Life! Noodles & Company is recognized for its supportive environment that fosters individual growth, team collaboration, and community involvement. It has been named one of America's Best Employers for Diversity and Women by Forbes and received numerous accolades for its work culture.
Financial Health:
With over 460 locations and robust financial performance, Noodles & Company maintains a solid fiscal strategy while focusing on long-term growth. This includes a keen interest in expanding its geographical footprint, particularly in the southern U.S. regions.
Customer Engagement:
The company offers an engaging Noodles Rewards program, which provides exclusive access to new menu items, double points on purchases, and more. It fosters customer loyalty through initiatives like the Goodness Guarantee program, ensuring guests are satisfied with their meals.
To learn more about Noodles & Company, explore their menu, or join their team, visit noodles.com.
Noodles & Company (NASDAQ: NDLS) is launching a new specialty Mac & Cheese menu in select markets across Colorado, Ohio, and Illinois. Building on their Wisconsin Mac & Cheese success, which sold over 10 million bowls in 2023, the company introduces three new variations: Buffalo Chicken Ranch, Garlic Bacon Ranch, and Pulled Pork BBQ Mac & Cheese. The company is also testing new items including Chicken Riggie, Green Goddess Salad, and Cajun Alfredo. All new dishes come with the company's Goodness Guarantee, allowing customers to exchange their meal if not satisfied.
Noodles & Company (NDLS) reported declining financial results for Q3 2024. Total revenue decreased 4.0% to $122.8 million, with system-wide comparable restaurant sales falling 3.3%. The company posted a net loss of $6.8 million ($0.15 loss per share), compared to net income of $0.7 million in Q3 2023. Operating margin declined to -3.9%, and restaurant contribution margin decreased to 12.8%. Adjusted EBITDA fell to $4.9 million from $10.9 million year-over-year. The company opened three new company-owned restaurants and one franchise location during the quarter. Management revised down their 2024 guidance, citing challenging consumer environment and declining delivery sales.
Noodles & Company (NASDAQ: NDLS) has appointed Stephen Kennedy as Executive Vice President of Marketing, effective November 18, 2024. Kennedy brings over two decades of experience, including significant roles at Bounteous, Nestle USA, and Domino's. At Domino's, he was instrumental in driving record sales growth through successful product launches and the Piece of the Pie Rewards program. At Nestle USA, he led Marketing Enablement initiatives, improving media ROI and e-commerce performance. CEO Drew Madsen highlighted Kennedy's expertise in digital innovation and customer engagement as key factors in strengthening brand relevance and driving profitable growth.
Noodles & Company (NASDAQ: NDLS) has announced that it will host a conference call to discuss its third quarter 2024 financial results on Wednesday, November 6, 2024 at 4:30 p.m. ET. The call will be hosted by Drew Madsen, Chief Executive Officer, and Mike Hynes, Chief Financial Officer. A press release containing the financial results will be issued after the market close on the same day.
Interested parties can access the live conference call by registering through a provided link to receive personal dial-in information and a passcode. It is recommended to join 10 minutes before the event start time. Additionally, the conference call will be webcast live from the company's corporate website at investor.noodles.com under the "Events & Presentations" page. An archive of the webcast will be available on the website shortly after the call concludes.
Noodles & Company (NASDAQ: NDLS) has launched three new dishes as part of a multi-phase menu transformation: Lemon Garlic Shrimp Scampi, Chipotle Chicken Cavatappi, and Crispy Chicken Bacon Alfredo. These new offerings, developed in collaboration with The Culinary Edge, introduce bold flavors and fresh ingredients to elevate the dining experience.
The nationwide rollout follows successful trials in three test markets. Noodles & Company's chief concept officer, Scott Davis, emphasizes that this launch marks the beginning of delivering more sophisticated, dynamic flavors to guests. The company also introduces the Noodles Goodness Guarantee, allowing customers to exchange their entree if they don't love it.
To enhance customer engagement, Noodles & Company offers the Noodles Rewards program, providing members with benefits such as a free regular entree after their first purchase, birthday rewards, and access to the new Extra Goodness platform. The company also highlights its catering services for various events.
Noodles & Company (NASDAQ: NDLS) is celebrating National Noodle Day on October 6, 2024, with a special offer for Noodles Rewards members. On October 5 and 6, members can enjoy any noodle bowl for just $5. This promotion allows guests to try new dishes or enjoy their favorites at a discounted price.
The offer includes popular menu items like Spicy Korean Steak Noodles, Penne Rosa, and Wisconsin Mac & Cheese. CEO Drew Madsen expressed excitement about the celebration and appreciation for loyal customers. The company's Goodness Guarantee program ensures customer satisfaction, allowing guests to exchange their meal if they're not satisfied.
To participate, customers must be Noodles Rewards members. The offer is valid once per member, excluding customizations. Signing up for Noodles Rewards is free through the mobile app or website. Orders can be placed online, via the app, or in-store for pickup or delivery. Noodles Catering is also available for events and gatherings.
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.
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