Noodles & Company (NDLS) 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 29, 2015	Nov. 02, 2015
Document Information [Line Items]
Entity Registrant Name	NOODLES & Co
Entity Central Index Key	1,275,158
Current Fiscal Year End Date	--12-29
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		26,185,819
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,522,098

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 29, 2015	Dec. 30, 2014
Current assets:
Cash and cash equivalents	$ 2,016	$ 1,906
Accounts receivable	3,867	5,184
Inventories	10,381	9,415
Prepaid expenses and other assets	7,834	6,271
Total current assets	24,098	22,776
Property and equipment, net	198,098	205,573
Deferred tax assets, net	1,314	0
Goodwill	1,956	1,927
Goodwill	6,400	6,400
Other assets, net	2,314	2,227
Total long-term assets	210,082	216,127
Total assets	234,180	238,903
Current liabilities:
Accounts payable	11,263	10,865
Accrued payroll and benefits	9,107	4,704
Accrued expenses and other current liabilities	10,178	8,560
Current deferred tax liabilities, net	1,702	1,702
Total current liabilities	32,250	25,831
Long-term debt	60,404	27,500
Deferred rent	40,514	35,498
Deferred tax liabilities, net	0	6,512
Other long-term liabilities	3,512	3,447
Total liabilities	136,680	98,788
Stockholders' equity:
Preferred stock—$0.01 par value, authorized 1,000,000 shares as of June 30, 2015 and December 30, 2014; no shares issued or outstanding	0	0
Common stock—$0.01 par value, authorized 180,000,000 shares as of September 29, 2015 and December 30, 2014; 30,131,788 issued and 27,707,917 outstanding as of September 29, 2015 and 29,820,340 issued and outstanding as of December 30, 2014	301	298
Treasury stock, at cost, 2,423,871 and 67,586 shares as of September 29, 2015 and December 30, 2014, respectively	(35,000)	(2,848)
Additional paid-in capital	120,065	120,929
Accumulated other comprehensive loss	(92)	0
Retained earnings	12,226	21,736
Total stockholders' equity	97,500	140,115
Total liabilities and stockholders' equity	$ 234,180	$ 238,903

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 29, 2015	Dec. 30, 2014
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	180,000,000	180,000,000
Common stock, shares, issued	30,005,350	29,820,340
Common stock, shares, outstanding	29,598,100	29,820,340
Treasury stock, shares	474,826	67,586

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2015	Sep. 30, 2014	Sep. 29, 2015	Sep. 30, 2014
Revenue:
Restaurant revenue	$ 116,151	$ 105,143	$ 334,767	$ 291,789
Franchising royalties and fees	1,177	1,073	3,555	3,406
Total revenue	117,328	106,216	338,322	295,195
Restaurant operating costs (exclusive of depreciation and amortization shown separately below):
Cost of sales	30,941	28,359	88,616	78,533
Labor	37,687	31,884	105,865	88,410
Occupancy	12,911	11,004	37,609	31,114
Other restaurant operating costs	17,003	14,532	46,878	38,981
General and administrative	9,384	7,545	27,034	22,806
Depreciation and amortization	7,117	6,454	20,959	17,969
Pre-opening	1,108	1,142	3,150	3,282
Restaurant impairment, asset disposals and closure costs	16,479	251	22,815	658
Total costs and expenses	132,630	101,171	352,926	281,753
(Loss) income from operations	(15,302)	5,045	(14,604)	13,442
Interest expense	391	112	818	168
(Loss) income before income taxes	(15,693)	4,933	(15,422)	13,274
(Benefit) provision for income taxes	(5,872)	1,990	(5,911)	5,380
Net (loss) income	$ (9,821)	$ 2,943	$ (9,511)	$ 7,894
(Loss) earnings per share of Class A and Class B common stock, combined:
Basic (USD per share)	$ (0.35)	$ 0.10	$ (0.32)	$ 0.27
Diluted (USD per share)	$ (0.35)	$ 0.10	$ (0.32)	$ 0.25
Weighted average shares of Class A and Class B common stock outstanding, combined:
Basic (in shares)	28,253,859	29,757,820	29,349,061	29,689,342
Diluted (in shares)	28,253,859	30,893,904	29,349,061	31,042,443

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2015	Sep. 30, 2014	Sep. 29, 2015	Sep. 30, 2014
Net (loss) income	$ (9,821)	$ 2,943	$ (9,511)	$ 7,894
Cash flow hedges:
Foreign currency translation adjustments	(80)	0	(92)	0
Other comprehensive loss	(80)	0	(92)	0
Comprehensive (loss) income	$ (9,901)	$ 2,943	$ (9,603)	$ 7,894

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2015	Sep. 30, 2014
Operating activities
Net (loss) income	$ (9,511)	$ 7,894
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	20,959	17,969
Deferred income taxes	(7,826)	5,380
Restaurant impairment, asset disposals and closure costs	22,740	658
Amortization of debt issuance costs	73	76
Stock-based compensation	1,036	1,028
Changes in operating assets and liabilities:
Accounts receivable	686	318
Inventories	(945)	(1,639)
Prepaid expenses and other assets	(1,585)	(2,040)
Accounts payable	512	3,169
Deferred rent	5,027	4,660
Income taxes	1,538	(505)
Accrued expenses and other liabilities	5,182	485
Net cash provided by operating activities	37,886	37,453
Investing activities
Purchases of property and equipment	(35,616)	(39,943)
Acquisition of franchise restaurants	(628)	(13,623)
Net cash used in investing activities	(36,244)	(53,566)
Financing activities
Proceeds from issuance of long-term debt	328,008	211,326
Payments on long-term debt	(295,104)	(196,138)
Debt issuance costs	(138)	0
Acquisition of treasury stock	(32,152)	(71)
Other financing activities	(25)	(60)
Other financing activities	(2,029)	2,336
Net cash (used in) provided by financing activities	(1,440)	17,393
Effect of Exchange Rate on Cash and Cash Equivalents	(92)	0
Net increase in cash and cash equivalents	110	1,280
Cash and cash equivalents
Beginning of period	1,906	$ 968
End of period	$ 2,016

Business and Summary and Basis

Business and Summary and Basis of Presentation	9 Months Ended
	Sep. 29, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Summary and Basis of Presentation	Business Summary and Basis of Presentation Business Noodles & Company, (the "Company" or "Noodles & Company"), a Delaware corporation, develops and operates fast casual restaurants that serve globally inspired noodle and pasta dishes, soups, salads and sandwiches. As of September 29, 2015 , there were 424 company-owned restaurants and 64 franchise restaurants located in 35 states, the District of Columbia and one Canadian province. The Company operates its business as one operating and reportable segment. The accompanying interim unaudited consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles in the United States ("U.S. GAAP") for complete financial statements. In the opinion of the Company, all adjustments considered necessary for the fair presentation of the Company's results of operations, financial position and cash flows for the periods presented have been included and are of a normal, recurring nature. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the audited financial statements and the related notes included in the Company's Annual Report on Form 10-K for the fiscal year ended December 30, 2014 . Principles of Consolidation The accompanying consolidated financial statements include the accounts of Noodles & Company and its subsidiaries. All material intercompany balances and transactions are eliminated in consolidation. Fiscal Year The Company operates on a 52- or 53-week fiscal year ending on the Tuesday closest to December 31. Fiscal year 2015 , which ends on December 29, 2015 , and fiscal year 2014 , which ended on December 30, 2014 , each contain 52 weeks. Fiscal quarters each contain thirteen weeks, with the exception of the fourth quarter of a 53-week fiscal year, which contains fourteen weeks. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)." The pronouncement was issued to clarify the principles for recognizing revenue and to develop a common revenue standard and disclosure requirements for U.S. GAAP and International Financial Reporting Standards. The pronouncement is effective for annual and interim periods beginning after December 15, 2017, which will require the Company to adopt these provisions in the first quarter of fiscal 2018. Early adoption is not permitted. This pronouncement permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect this guidance will have on the Company's consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. In August 2014, the FASB issued ASU No. 2014-15, "Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern." This update requires management of the Company to evaluate whether there is substantial doubt about the Company’s ability to continue as a going concern. This update is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company does not expect this standard to have an impact on the Company’s consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, "Interest-Imputation of Interest (Subtopic 835-50): Simplifying the Presentation of Debt Issuance Costs." This update requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying value of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this update. The update is effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted. The adoption of this standard is not expected to have a material effect on the Company's consolidated financial statements. 1. Business Summary and Basis of Presentation (continued) In April 2015, the FASB issued ASU No. 2015-05, "Intangibles - Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement." The pronouncement was issued to provide guidance concerning accounting for fees in a cloud computing arrangement. The update is effective for reporting periods beginning after December 15, 2015. The adoption of this standard is not expected to have a material effect on the Company's consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11, "Inventory (Topic 330)." The pronouncement was issued to simplify the measurement of inventory and changes the measurement from lower of cost or market to lower of cost and net realizable value. This pronouncement is effective for reporting periods beginning after December 15, 2016. The adoption of ASU 2015-11 is not expected to have a significant impact on the Company's consolidated financial statements.

Supplemental Financial Informat

Supplemental Financial Information	9 Months Ended
	Sep. 29, 2015
Supplemental Financial Information [Abstract]
Supplemental Financial Information	Supplemental Financial Information Property and equipment, net, consist of the following (in thousands): September 29, December 30, Leasehold improvements $ 210,927 $ 208,678 Furniture, fixtures and equipment 117,737 114,148 Construction in progress 9,649 12,074 338,313 334,900 Accumulated depreciation and amortization (140,215 ) (129,327 ) $ 198,098 $ 205,573

Borrowings

Borrowings	9 Months Ended
	Sep. 29, 2015
Debt Disclosure [Abstract]
Borrowings	On June 4, 2015, the Company amended its existing credit facility to increase borrowing capacity on the revolving line of credit from $45.0 million to $75.0 million and to extend its term from November 2018 to June 2020. All other material terms and covenants remained the same. As of September 29, 2015 , the Company had $60.4 million outstanding and $11.8 million available for borrowing under the credit facility after considering the outstanding letters of credit aggregating $2.8 million . The credit facility bore interest between 3.50% and 3.75% during the first three quarters of 2015 . The Company was in compliance with all of its debt covenants as of September 29, 2015 .

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 29, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and all other current liabilities approximate their fair values due to the short maturities of these instruments. The carrying amounts of borrowings approximate fair value as interest rates on the the line of credit borrowings vary with market interest rates and negotiated terms and conditions are consistent with current market rates. The fair value of our line of credit borrowings is measured using Level 2 inputs. Adjustments to the fair value of non-financial assets measured at fair value on a non-recurring basis as of September 29, 2015 are discussed in Note 9-Restaurant Impairments, Asset Disposals and Closure Costs. There were no adjustments to the fair values of non-financial assets measured at fair value on a non-recurring basis as of September 30, 2014 .

Income Taxes

Income Taxes	9 Months Ended
	Sep. 29, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table presents the Company's provision (benefit) for income taxes for the first three quarters ended September 29, 2015 and September 30, 2014 (dollars in thousands): Fiscal Quarter Ended Three Fiscal Quarters Ended September 29, September 30, September 29, September 30, (Benefit) provision for income taxes $ (5,872 ) $ 1,990 $ (5,911 ) $ 5,380 Effective tax rate 37.4 % 40.3 % 38.3 % 40.5 % 5. Income Taxes (continued) The effective tax rate for the third quarter of 2015 and the first three quarters of 2015 reflects a projected federal tax rate of 34% , compared to 35% for the third quarter of 2014 and the first three quarters of 2014. The 2015 estimated annual effective tax rate is expected to be between 38% and 39% compared to 38.4% for 2014 .

Share Repurchase (Notes)

Share Repurchase (Notes)	9 Months Ended
	Sep. 29, 2015
Equity [Abstract]
Share Repurchases	Share Repurchases On June 4, 2015, the Company announced a share repurchase program of up to $35.0 million of the Company's Class A common stock. Under this program, the Company purchased shares of the Company's Class A common stock in the open market (including in pre-arranged stock trading plans in accordance with the guidelines specified in Rule 10b5-1 under the Securities Exchange Act of 1934, as amended ) or in privately negotiated transactions. During the three quarters ended September 29, 2015 , the Company repurchased 2,423,871 shares of its common stock for approximately $35.0 million in open market transactions, thereby completing the repurchase program. Repurchased shares are included as treasury stock in the Condensed Consolidated Balance Sheets.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 29, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company's Stock Incentive Plan, as amended and restated in May of 2013, authorizes the grant of nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units and incentive bonuses to employees, officers, non-employee directors and other service providers. The number of shares of common stock available for issuance pursuant to awards granted under the Stock Incentive Plan shall not exceed 3,750,500 . The following table presents information related to the Stock Incentive Plan (in thousands, except share and per share amounts): Fiscal Quarter Ended Three Fiscal Quarters Ended September 29, September 30, September 29, September 30, Outstanding, beginning of period 3,518,685 3,324,822 3,245,264 3,309,872 Granted 34,500 22,000 561,821 253,552 Exercised (614,504 ) (37,313 ) (790,055 ) (230,551 ) Forfeited (100,719 ) (1,401 ) (179,068 ) (24,765 ) Outstanding, end of period 2,837,962 3,308,108 2,837,962 3,308,108 Weighted average fair market value on option grant date $ 4.81 $ 7.47 $ 5.88 $ 10.63 Stock based compensation expense $ 455 $ 368 $ 1,155 $ 1,025 Capitalized stock based compensation expense $ 56 $ 25 $ 156 $ 54

Asset Disposals, Closure Costs

Asset Disposals, Closure Costs and Restaurant Impairments (Notes)	9 Months Ended
	Sep. 29, 2015
Property, Plant and Equipment Impairment or Disposal [Abstract]
Restaurant Impairments, Asset Disposals and Closure Costs	Restaurant Impairment, Asset Disposals and Closure Costs The following table presents restaurant impairment, asset disposals and closure costs for the third quarters of 2015 and 2014 and first three quarters ended September 29, 2015 and September 30, 2014 (in thousands): Fiscal Quarter Ended Three Fiscal Quarters Ended September 29, September 30, September 29, September 30, Restaurant impairments (1) $ 16,213 $ 12 $ 22,157 $ 16 Loss on disposal of assets 204 141 524 421 Closure costs and other (1) 62 98 134 221 $ 16,479 $ 251 $ 22,815 $ 658 _____________________________ (1) Restaurant impairment and closure costs can include expenditures related to restaurants previously impaired or closed. 8. Restaurant Impairment, Asset Disposals and Closure Costs (continued) During the third quarter of 2015 and the first three quarters of 2015 , the Company recognized restaurant impairment expense of $16.2 million and $22.2 million , respectively, primarily related to management's current assessment of the expected future cash flows of various restaurants based on recent results. During the first quarter of 2015 and the third quarter of 2015 , eight and 25 restaurants, respectively, were identified as impaired. Ten of the 25 restaurants impaired in the third quarter of 2015 are expected to be closed by the end of 2015. See Note 13-Subsequent Events. Impairment expense is a Level 3 fair value measure and was determined by comparing the carrying value of restaurant assets to the estimated fair market value, which is based on projected cash flows. Fair value is generally determined based on appraisals or sales prices of comparable assets and estimates of future cash flows. These expenses are included in the "Restaurant impairment, asset disposals and closure costs" line in the Consolidated Statements of Income.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 29, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Earnings per share ("EPS") is calculated by dividing (loss) income available to common stockholders by the weighted-average number of shares of common stock outstanding during each period. Diluted (loss) earnings per share ("diluted EPS") is calculated using (loss) income available to common stockholders divided by diluted weighted-average shares of common stock outstanding during each period. Potentially dilutive securities include shares of common stock underlying stock options and warrants. The following table sets forth the computations of basic and diluted (loss) earnings per share: Fiscal Quarter Ended Three Fiscal Quarters Ended September 29, September 30, September 29, September 30, Net (loss) income (in thousands): $ (9,821 ) $ 2,943 $ (9,511 ) $ 7,894 Shares: Basic weighted average shares outstanding 28,253,859 29,757,820 29,349,061 29,689,342 Dilutive stock options and warrants — 1,136,084 — 1,353,101 Diluted weighted average number of shares outstanding 28,253,859 30,893,904 29,349,061 31,042,443 (Loss) earnings per share: Basic (loss) EPS $ (0.35 ) $ 0.10 $ (0.32 ) $ 0.27 Diluted (loss) EPS $ (0.35 ) $ 0.10 $ (0.32 ) $ 0.25 Potential common shares are excluded from the computation of diluted (loss) earnings per share when the effect would be anti-dilutive. All potential common shares are anti-dilutive in periods of net loss. In the third quarters of 2015 and 2014 , there were 2,837,962 and 267,196 outstanding options, respectively, excluded from the diluted (loss) earnings per share calculation because they were anti-dilutive. In the first three quarters of 2015 and 2014 , there were 2,837,962 and 243,552 outstanding options, respectively, excluded from the diluted (loss) earnings per share calculation because they were anti-dilutive. Additionally, approximately 10,000 and 15,000 outstanding warrants were anti-dilutive and were excluded in the calculation of diluted (loss) earnings per share during the third quarter of 2015 and the first three quarters of 2015, respectively.

Acquisition of Franchised Resta

Acquisition of Franchised Restaurants Acquisition of Franchised Restaurants	9 Months Ended
	Sep. 29, 2015
Business Combinations [Abstract]
Acquisition of Franchised Restaurants	Acquisition of Franchised Restaurants On July 2, 2014, the Company acquired 16 restaurants from one of its franchisees. The cash purchase price was $13.6 million and the Company incurred acquisition costs related to the transaction of approximately $60,000 reflected in General and Administrative expense for the three quarters ended September 30, 2014. The consolidated statements of income include the results of operations for the restaurants from the date of acquisition. The pro forma impact of the acquisition is not presented as the impact was not material to reported results. The Company allocated the purchase price to the tangible and intangible assets acquired and liabilities assumed at the acquisition date at their estimated fair values with the remainder allocated to goodwill. During the fourth quarter of 2014, the Company finalized the purchase price accounting of the above acquisition and recorded certain immaterial purchase accounting adjustments, which are reflected in the purchase price allocation table as follows (in thousands): 10. Acquisition of Franchised Restaurants (continued) Fair Value at July 2, 2014 Inventories $ 292 Prepaid expenses and other assets 27 Property and equipment 5,649 Intangibles 1,421 Goodwill 6,400 Deferred Rent and Other Liabilities (154 ) Total purchase price $ 13,635 The fair value measurement of tangible and intangible assets and liabilities as of the acquisition date is based on significant inputs not observed in the market and thus represents a Level 3 measurement that is subject to change.

Supplemental Disclosures to Con

Supplemental Disclosures to Consolidated Statements of Cash Flows	9 Months Ended
	Sep. 29, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures to Consolidated Statements of Cash Flows	Supplemental Disclosures to Consolidated Statements of Cash Flows The following table presents the supplemental disclosures to the consolidated statements of cash flows for the first three quarters ended September 29, 2015 and September 30, 2014 (in thousands): September 29, September 30, Interest paid (net of amounts capitalized) $ 445 $ 81 Income taxes paid 379 505 Changes in purchases of property and equipment accrued in accounts payable, net (115 ) (377 )

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 29, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the normal course of business, the Company is subject to other proceedings, lawsuits and claims, including those matters that the Company has previously disclosed and for which there is no material update. Consequently, the Company is unable to ascertain the ultimate aggregate amount of monetary liability or financial impact with respect to these matters as of September 29, 2015 . These matters could affect the operating results of any one financial reporting period when resolved in future periods. Management believes that an unfavorable outcome with respect to these matters is remote or a potential range of loss is not material to the Company's consolidated financial statements. Significant increases in the number of these claims, or one or more successful claims that result in greater liabilities than the Company currently anticipates, could materially and adversely affect the Company's business, financial condition, results of operations or cash flows.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 29, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company announced on November 5, 2015 that it plans to close 16 restaurants by the end of 2015. The Company recorded an impairment charge in the third fiscal quarter of 2015 for the write-off of the value of the leasehold improvements and restaurant and other equipment for 10 of these restaurants. Five of these restaurants were impaired in the first quarter of 2015 and one restaurant was impaired in the fourth quarter of 2010. In connection with the closure of these restaurants, the Company estimates that it will record additional closure charges totaling approximately $5.0 million . This estimate represents the lease termination fees, as well as brokerage commissions and other direct costs associated with the closure including building de-identification and equipment removal, transportation, storage and severance payments.

Business and Summary and Basi20

Business and Summary and Basis of Presentation (Policies)	9 Months Ended
	Sep. 29, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of Noodles & Company and its subsidiaries. All material intercompany balances and transactions are eliminated in consolidation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)." The pronouncement was issued to clarify the principles for recognizing revenue and to develop a common revenue standard and disclosure requirements for U.S. GAAP and International Financial Reporting Standards. The pronouncement is effective for annual and interim periods beginning after December 15, 2017, which will require the Company to adopt these provisions in the first quarter of fiscal 2018. Early adoption is not permitted. This pronouncement permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect this guidance will have on the Company's consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. In August 2014, the FASB issued ASU No. 2014-15, "Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern." This update requires management of the Company to evaluate whether there is substantial doubt about the Company’s ability to continue as a going concern. This update is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company does not expect this standard to have an impact on the Company’s consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, "Interest-Imputation of Interest (Subtopic 835-50): Simplifying the Presentation of Debt Issuance Costs." This update requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying value of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this update. The update is effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted. The adoption of this standard is not expected to have a material effect on the Company's consolidated financial statements.

Supplemental Financial Inform21

Supplemental Financial Information (Tables)	9 Months Ended
	Sep. 29, 2015
Supplemental Financial Information [Abstract]
Schedule of Property and Equipment	Property and equipment, net, consist of the following (in thousands): September 29, December 30, Leasehold improvements $ 210,927 $ 208,678 Furniture, fixtures and equipment 117,737 114,148 Construction in progress 9,649 12,074 338,313 334,900 Accumulated depreciation and amortization (140,215 ) (129,327 ) $ 198,098 $ 205,573

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 29, 2015
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The following table presents the Company's provision (benefit) for income taxes for the first three quarters ended September 29, 2015 and September 30, 2014 (dollars in thousands): Fiscal Quarter Ended Three Fiscal Quarters Ended September 29, September 30, September 29, September 30, (Benefit) provision for income taxes $ (5,872 ) $ 1,990 $ (5,911 ) $ 5,380 Effective tax rate 37.4 % 40.3 % 38.3 % 40.5 %

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 29, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	The following table presents information related to the Stock Incentive Plan (in thousands, except share and per share amounts): Fiscal Quarter Ended Three Fiscal Quarters Ended September 29, September 30, September 29, September 30, Outstanding, beginning of period 3,518,685 3,324,822 3,245,264 3,309,872 Granted 34,500 22,000 561,821 253,552 Exercised (614,504 ) (37,313 ) (790,055 ) (230,551 ) Forfeited (100,719 ) (1,401 ) (179,068 ) (24,765 ) Outstanding, end of period 2,837,962 3,308,108 2,837,962 3,308,108 Weighted average fair market value on option grant date $ 4.81 $ 7.47 $ 5.88 $ 10.63 Stock based compensation expense $ 455 $ 368 $ 1,155 $ 1,025 Capitalized stock based compensation expense $ 56 $ 25 $ 156 $ 54

Asset Disposals, Closure Cost24

Asset Disposals, Closure Costs and Restaurant Impairments (Tables)	9 Months Ended
	Sep. 29, 2015
Property, Plant and Equipment Impairment or Disposal [Abstract]
Impaired Assets to be Disposed of by Method Other than Sale	The following table presents restaurant impairment, asset disposals and closure costs for the third quarters of 2015 and 2014 and first three quarters ended September 29, 2015 and September 30, 2014 (in thousands): Fiscal Quarter Ended Three Fiscal Quarters Ended September 29, September 30, September 29, September 30, Restaurant impairments (1) $ 16,213 $ 12 $ 22,157 $ 16 Loss on disposal of assets 204 141 524 421 Closure costs and other (1) 62 98 134 221 $ 16,479 $ 251 $ 22,815 $ 658

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 29, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table sets forth the computations of basic and diluted (loss) earnings per share: Fiscal Quarter Ended Three Fiscal Quarters Ended September 29, September 30, September 29, September 30, Net (loss) income (in thousands): $ (9,821 ) $ 2,943 $ (9,511 ) $ 7,894 Shares: Basic weighted average shares outstanding 28,253,859 29,757,820 29,349,061 29,689,342 Dilutive stock options and warrants — 1,136,084 — 1,353,101 Diluted weighted average number of shares outstanding 28,253,859 30,893,904 29,349,061 31,042,443 (Loss) earnings per share: Basic (loss) EPS $ (0.35 ) $ 0.10 $ (0.32 ) $ 0.27 Diluted (loss) EPS $ (0.35 ) $ 0.10 $ (0.32 ) $ 0.25

Acquisition of Franchised Res26

Acquisition of Franchised Restaurants Acquisition of Franchised Restaurants (Tables)	9 Months Ended
	Sep. 29, 2015
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	Company finalized the purchase price accounting of the above acquisition and recorded certain immaterial purchase accounting adjustments, which are reflected in the purchase price allocation table as follows (in thousands): 10. Acquisition of Franchised Restaurants (continued) Fair Value at July 2, 2014 Inventories $ 292 Prepaid expenses and other assets 27 Property and equipment 5,649 Intangibles 1,421 Goodwill 6,400 Deferred Rent and Other Liabilities (154 ) Total purchase price $ 13,635

Supplemental Disclosures to C27

Supplemental Disclosures to Consolidated Statements of Cash Flows (Tables)	9 Months Ended
	Sep. 29, 2015
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table presents the supplemental disclosures to the consolidated statements of cash flows for the first three quarters ended September 29, 2015 and September 30, 2014 (in thousands): September 29, September 30, Interest paid (net of amounts capitalized) $ 445 $ 81 Income taxes paid 379 505 Changes in purchases of property and equipment accrued in accounts payable, net (115 ) (377 )

Business and Summary and Basi28

Business and Summary and Basis of Presentation (Details)	9 Months Ended	12 Months Ended
	Sep. 29, 2015segmentprovincerestaurantstate$ / shares	Dec. 30, 2014$ / shares
Franchisor Disclosure [Line Items]
Number of states in which Noodles & Company operates | state	35
Number of Canadian provinces | province	1
Number of operating segments | segment	1
Number of reportable segments | segment	1
Common stock, par value (USD per share) | $ / shares	$ 0.01	$ 0.01
Number of weeks in fiscal year	364 days	364 days
Company-Owned [Member]
Franchisor Disclosure [Line Items]
Number of restaurants	424
Franchise [Member]
Franchisor Disclosure [Line Items]
Number of restaurants	64

Supplemental Financial Inform29

Supplemental Financial Information (Property and Equipment) (Details) - USD ($) $ in Thousands	Sep. 29, 2015	Dec. 30, 2014
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 338,313	$ 334,900
Accumulated depreciation and amortization	(140,215)	(129,327)
Property and equipment, net	198,098	205,573
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	210,927	208,678
Furniture, Fixtures, and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	117,737	114,148
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 9,649	$ 12,074

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 29, 2015	Sep. 29, 2015	Jun. 04, 2015	Jun. 03, 2015
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 75	$ 45
Amount outstanding	$ 60.4	$ 60.4
Remaining borrowing capacity	11.8	11.8
Letters of credit outstanding	$ 2.8	$ 2.8
Minimum [Member]
Line of Credit Facility [Line Items]
Interest rate	3.50%	3.50%
Maximum [Member]
Line of Credit Facility [Line Items]
Interest rate	3.75%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2015	Sep. 30, 2014	Sep. 29, 2015	Sep. 30, 2014	Dec. 30, 2014
Income Tax Contingency [Line Items]
(Benefit) provision for income taxes	$ (5,872)	$ 1,990	$ (5,911)	$ 5,380
Effective tax rate	37.40%	40.30%	38.30%	40.50%
Income tax rate	34.00%	35.00%
Estimated effective tax rate					38.00%
Minimum [Member]
Income Tax Contingency [Line Items]
Estimated effective tax rate	38.00%		38.00%
Maximum [Member]
Income Tax Contingency [Line Items]
Estimated effective tax rate	39.00%		39.00%

Share Repurchase (Details)

Share Repurchase (Details) - Common Class A [Member] - USD ($)	3 Months Ended
	Sep. 29, 2015	Jun. 04, 2015
Equity, Class of Treasury Stock [Line Items]
Share repurchase program amount		$ 35,000,000
Treasury shares acquired in period (in shares)	2,423,871
Value of treasury stock acquired	$ 35,000,000

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details)	May. 31, 2013shares
IPO [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Maximum shares reserved for issuance	3,750,500

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock Incentive Plan) (Details) - Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2015	Sep. 30, 2014	Sep. 29, 2015	Sep. 30, 2014
Options, Outstanding [Roll Forward]
Outstanding, beginning of period	3,518,685	3,324,822	3,245,264	3,309,872
Granted	34,500	22,000	561,821	253,552
Exercised	(614,504)	(37,313)	(790,055)	(230,551)
Forfeited	(100,719)	(1,401)	(179,068)	(24,765)
Outstanding, end of period	2,837,962	3,308,108	2,837,962	3,308,108
Weighted average fair market value on option grant date	$ 4.81	$ 7.47	$ 5.88	$ 10.63
Stock based compensation expense	$ 455	$ 368	$ 1,155	$ 1,025
Capitalized stock based compensation expense	$ 56	$ 25	$ 156	$ 54

Asset Disposals, Closure Cost35

Asset Disposals, Closure Costs and Restaurant Impairments (Details) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 29, 2015USD ($)restaurant	Mar. 31, 2015restaurant	Sep. 30, 2014USD ($)	Mar. 31, 2010restaurant	Sep. 29, 2015USD ($)	Sep. 30, 2014USD ($)
Property, Plant and Equipment Impairment or Disposal [Abstract]
Restaurant impairments	$ 16,213		$ 12		$ 22,157	$ 16
Loss on disposal of assets	204		141		524	421
Closure costs and other	62		98		134	221
Total	$ 16,479		$ 251		$ 22,815	$ 658
Number of Impaired restaurants | restaurant	25	8
Number of impaired restaurants expected to be closed | restaurant	10	5		1

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2015	Sep. 30, 2014	Sep. 29, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net (loss) income	$ (9,821)	$ 2,943	$ (9,511)	$ 7,894
Shares:
Basic weighted average shares outstanding (in shares)	28,253,859	29,757,820	29,349,061	29,689,342
Dilutive stock options and warrants (in shares)	0	1,136,084	0	1,353,101
Diluted weighted average number of shares outstanding (in shares)	28,253,859	30,893,904	29,349,061	31,042,443
(Loss) earnings per share:
Basic EPS (USD per share)	$ (0.35)	$ 0.10	$ (0.32)	$ 0.27
Diluted EPS (USD per share)	$ (0.35)	$ 0.10	$ (0.32)	$ 0.25
Antidilutive securities excluded from computation of earnings per share	2,837,962	267,196	2,837,962	243,552
Warrant [Member]
(Loss) earnings per share:
Antidilutive securities excluded from computation of earnings per share	10,000		15,000

Acquisition of Franchised Res37

Acquisition of Franchised Restaurants Acquisition of Franchised Restaurants (Details)	Jul. 02, 2014USD ($)restaurant	Sep. 29, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 30, 2014USD ($)
Business Acquisition [Line Items]
Total purchase price of restaurants acquired		$ 628,000	$ 13,623,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Goodwill		$ 6,400,000		$ 6,400,000
Restaurants from Franchisees [Member]
Business Acquisition [Line Items]
Number of Businesses Acquired | restaurant	16
Total purchase price of restaurants acquired	$ 13,600,000
Acquisition costs incurred	60,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Inventories	292,000
Prepaid expenses and other assets	27,000
Property and equipment	5,649,000
Intangibles	1,421,000
Goodwill	6,400,000
Deferred Rent and Other Liabilities	(154,000)
Total purchase price	$ 13,635,000

Supplemental Disclosures to C38

Supplemental Disclosures to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2015	Sep. 30, 2014
Supplemental Cash Flow Elements [Abstract]
Interest paid (net of amounts capitalized)	$ 445	$ 81
Income taxes paid	379	505
Changes in purchases of property and equipment accrued in accounts payable, net	$ (115)	$ (377)

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events (Details) $ in Millions	Nov. 05, 2015USD ($)restaurant	Sep. 29, 2015restaurant	Mar. 31, 2015restaurant	Mar. 31, 2010restaurant
Subsequent Event [Line Items]
Number of impaired restaurants expected to be closed		10	5	1
Number of Impaired restaurants		25	8
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of restaurants closed	16
Closure charges | $	$ 5