Noodles & Company’s systemwide same store-sales rose 1.3 percent during the fourth quarter ended Dec. 30, the company said Thursday.
Adjusting for charges related to the company’s initial public offering in mid 2013 and other expenses, net income increased 9.2 percent, to $3.9 million, or 13 cents per share.
Kevin Reddy, Noodles & Company’s chairman and CEO, said the fast-casual operator made progress in several key areas in 2014, but still needs to work on brand awareness.
“During the fourth quarter, comparable restaurant sales accelerated on a two-year holiday adjusted basis, to 4.8 percent for company-owned restaurants. We returned to positive earnings per share growth and ended the year with 59 new systemwide restaurants,” he said.
Noodles & Company hired an advertising agency to help it narrow its brand awareness gap and better communicate the brand to new and existing guests, Reddy said, adding that the company plans to increase spending on advertising in the coming months.
For fiscal 2015, the company projected same-store sales growth ranging between 2.5 percent and 4 percent and unit growth between 12 percent and 14 percent.
Broomfield, Colo.-based Noodles & Company ended the quarter with 439 locations in 32 states and the District of Columbia.
4Q NET INCOME
Result: $3.5 million, or 11 cents per share% Increase: 46% (from $2.4 million, or 8 cents per share)
4Q REVENUE
Result: $108.5 million% Increase: 18% (from $91.5 million)
4Q SAME-STORE SALES
% Increase systemwide: 1.3%
% Increase corporate: 1.3%
% Increase franchised: 1.5%
Source: Company report
FULL YEAR NET INCOME
Result: $11.4 million, or 37 cents per share% Increase: 71% (from $6.7 million, or 24 cents per share)
FULL YEAR REVENUE
Result: $403.7 million% Increase: 15% (from $350.9 million)
FULL YEAR SAME-STORE SALES
% Increase systemwide: 0.2%
% Increase corporate: 0.3%
% Decrease franchised: 0.4%
Source: Company report
RELATED:
• Noodles & Company 3Q profit falls 12%
• Noodles & Company 2Q same-store sales suffer on weather woes
• More restaurant finance news
Contact Lisa Jennings at [email protected].
Follow her on Twitter: @livetodineout
