Noodles & Co. (NDLS) also detracted from Fund performance during the period. Noodles & Co. continues to execute on its growth plan but same-store sales growth came in slightly below expectations due to lower traffic and the impact of the Colorado floods. Noodles & Co. currently has 370 restaurants and we believe that the company has an opportunity to dramatically increase the store base at good unit economics.
From Meridian Funds's semi-annual report ended December 31, 2013.
