Noodles & Company NDLS reported preliminary first-quarter 2020 comparable sales results and provided business update. Following the news, the company’s shares gained 1.8% in after-hour trading session yesterday. However, in the past three months, shares of the company have declined 28.1%, compared with the industry’s decrease of 21.5%.The company reported robust comparable sales results “during the first quarter through the second fiscal week of the third fiscal period ended on March 31, 2020.” Sales declined sharply from third week of period 3, on account of the coronavirus-induced shutdowns.In the first quarter, Noodles & Company’s system-wide comps declined 7.2%. Company-owned and franchise restaurant comps also fell 7% and 8.9%, in the first quarter, respectively.The company announced that as of Apr 13, 97% of company restaurants and 94% of franchise restaurants are in operations. To curb the spread of this deadly virus, the company’s closed its dine-in services and is only operating through takeout, curbside, quick pick-up and delivery operations. Recently, the company has also launched curbside pickup in 350 restaurants throughout the system. It has also partnered with Uber Eats to expand delivery. Owing to the COVID-19 outbreak, Noodles & Company has reduced capital expenditure. The company now anticipates capital expenditure in the range of $7.0 million to $10.0 million compared with the previous guidance of $20.0 million to $30.0 million.Liquidity UpdateGiven the uncertainty surrounding the global pandemic, the company borrowed $47 million under its revolving credit facility to improve cash position. Moreover, the company drew an additional $8.5 million under the credit facility during the first week of second-quarter 2020.This takes cash on hand to approximately $58 million as of Apr 10.Noodles & Company, which shares space with Brinker International, Inc. EAT, has a Zacks Rank #3 (Hold).Stocks to ConsiderSome better-ranked stocks worth considering in the same space include Dine Brands Global, Inc. DIN and Potbelly Corporation PBPB. Both the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Dine Brands Global’s current-year earnings are likely to witness growth of 4%.Potbelly has an impressive long-term earnings growth rate of 17.5%.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report DINE BRANDS GLOBAL, INC. (DIN): Free Stock Analysis Report Brinker International, Inc. (EAT): Free Stock Analysis Report Potbelly Corporation (PBPB): Free Stock Analysis Report Noodles & Company (NDLS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research