, the Broomfield-based, fast-casual pasta chain, plans to close 28 to 32 of what it says are under-performing restaurants this year.
on the second-quarter financial results. The company’s revenue decreased 0.7% to $126.4 million from the $127.4 million reported in the second quarter of 2024.
Noodles & Company CEO Drew Drew Madsen said the company delivered “positive comparable restaurant sales of 1.5% in the second quarter despite a challenging consumer environment.” Madsen, who is for personal medical reasons, said in a statement that sales and traffic had moderated after an initially successful rollout of a new menu, due in part to the “strong value-conscious climate.”
“Comparable restaurant sales have increased to an average of positive 5% over the past two weeks, demonstrating that our value-focused initiatives are resonating with guests,” Madsen said.
One new company-owned restaurant opened and six company-owned restaurants and two franchise restaurants were closed in the second quarter, the company reported.
Joseph Christina, the current president and chief operating officer, will be the new CEO. Madsen will remain on the board of directors.
The company’s net loss in the second quarter was $17.6 million, or $0.38 loss per diluted share, compared to a net loss of $13.6 million, or $0.30 loss per diluted share, in the second quarter of 2024.
It’s not clear yet what locations will close. A message was left with the company. Noodles & Company has roughly 370 company-owned restaurants in 27 states. There are 24 restaurants in Colorado, according to the company’s website.
