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6 months ago
BRIEF-Noodles & Company announces private placement financing, strategic initiatives to improve operating performance and provides preliminary fourth quarter update
February 9, 2017 / 10:43 PM / 6 months ago

BRIEF-Noodles & Company announces private placement financing, strategic initiatives to improve operating performance and provides preliminary fourth quarter update

Feb 10 (Reuters) - Noodles & Co

* Noodles & Company announces private placement financing, strategic initiatives to improve operating performance and provides preliminary fourth quarter update

* Says announces plan to close approximately 55 underperforming restaurants

* Noodles & Co says private placement raises $18.5 million

* Sees Q4 total revenue between $129.0 million and $130.0 million.

* Noodles & Co says anticipates taking non-cash impairment charge during fiscal quarter ended January 3, 2017 that will range from $30.5 million to $31.5 million

* Sees Q4 system-wide decrease in comparable restaurant sales of 1.3%

* Noodles & Co says sees Q4 restaurant contribution margin between 11.5% and 12.0%

* Also anticipates recording a charge during fiscal quarter ended January 3, 2017 of approximately $11.0 million Source text for Eikon: Further company coverage:

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