Noodles & Company offers $4.95 deal in celebration of its 30th birthday

Core Insights - Noodles & Company is experiencing declining traffic attributed to a perceived erosion of value, prompting the company to offer significant discounts to loyalty program members from October 4 to October 6 [1][2] Promotions and Discounts - The chain is celebrating its 30th anniversary by offering classic dishes at 1990s-level discounts, with prices temporarily reduced to $4.95 for items that typically range from $7.25 to $10.25 [2] - The promotion is available to members of the Noodles Rewards loyalty program, which provides points for every dollar spent and includes a birthday reward, with new members receiving a free entrée after their first purchase of $10 or more [3] Leadership and Strategic Changes - Joe Christina has been appointed as CEO effective August 31, following the resignation of Drew Madsen, and he aims to honor the company's legacy while looking forward to new offerings [4] - Shortly after Christina's appointment, the company initiated a significant menu revamp and has been focusing on operational improvements, including staff training and technology upgrades [5] Financial and Compliance Issues - The company has reported a 2.5% decline in traffic, attributed to increased price sensitivity among customers, and has engaged Piper Sandler to explore future options, including a potential sale [5] - Noodles & Company is currently out of compliance with Nasdaq regulations due to its share price being below $1 for over 30 consecutive business days, marking the second instance of non-compliance within a year [6]