Noodles drops off after earnings

|About: Noodles & Company (NDLS)|By:, SA News Editor

Shares of Noodles (NASDAQ:NDLS) are down 6.41% after slight earnings miss.

Restaurant closings contributed to a 7% drop in revenue during the quarter, although the smaller store base led to 130 bp jump in restaurant level contribution margin to 15.0%.

Comparable restaurant sales fell 3.4% system-wide during the quarter.

Looking ahead, Noodles now expects to open 17 restaurants this year vs. 14 to 17 prior view.

Previously: Noodles & Company misses by $0.01, misses on revenue (Aug. 10)

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