US-based fast-casual restaurant chain Noodles has reported total revenue of $110m in the first quarter (Q1) ending 2 April 2019.
The restaurant company’s revenue is down by 0.4% compared to the previous year’s $110.5m, mainly due to the lower restaurant count.
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Noodles closed 19 company-owned restaurants since the start of last year, mostly offset by an increase in comparable restaurant sales.
It reported a 3% increase in system-wide comparable restaurant sales, which includes a 3% increase for company-owned restaurants and a 2.8% increase for franchise restaurants.
Net loss for the company was $1.9m, a $0.04 loss per diluted share, compared to the net loss of $3.6m, a $0.09 loss per diluted share, for the same period last year.
The company’s adjusted EBITDA was flat at $5.6m for the first quarter of this year.
Noodles CEO Dave Boennighausen said: “Our performance significantly strengthened during the last portion of the first quarter of 2019 and continues to strengthen to date in the second quarter.
“Importantly, traffic was positive during the last few weeks of March, and in the second quarter we are seeing further growth across traffic, price, and menu mix initiatives.
“Our results to date in 2019 validate that our strategic initiatives are working. Our off-premise sales continue to grow significantly, reinforcing that the Noodles brand is uniquely positioned and gives us a competitive advantage in offering convenience and choice for today’s consumer.
“Off-premise increased to 56% of sales during the first quarter of 2019, led by our digital sales, which, inclusive of delivery, grew 63% over last year and accounted for 22% of sales.”
In addition, the fast casual chain acquired one franchise restaurant during the first quarter of this year.
It had 459 restaurants including 395 company-owned restaurants and 64 franchise restaurants.
