Good Times & Bad Daddy’s Report Fiscal 2017 Q2 Same Store Sales
April 03 2017 - 7:30AM
Business Wire
Bad Daddy’s Same Store Sales Increase
3.2%Good Times’ Same Store Sales Increase 0.5% Net of
Remodel Closures
Good Times Restaurants Inc. (NASDAQ: GTIM), operator of
Good Times Burgers & Frozen Custard, a regional quick-service
restaurant chain focused on fresh, high-quality, all-natural
products and of Bad Daddy’s Burger Bar, a full-service, upscale
concept, today announced that its Bad Daddy’s same store sales
increased 3.2% in its fiscal second quarter ended March 28, 2017
over the prior year’s increase of 1.9% and its Good Times’ same
store sales increased 0.1% during the quarter over the prior year’s
increase of 0.5%. Excluding the days that the Good Times’
restaurants were closed for kitchen remodels to add new production
line equipment, same store sales increased 0.5% for the
quarter.
Boyd Hoback, President & CEO, said: “We saw our third
consecutive quarter of sequential improvement in our same store
sales at Good Times, and we continue to exceed our expectations for
Bad Daddy’s. We are very pleased with our results during the second
quarter, particularly given the competitive discounting
environment, and the fact that we had no media advertising in place
for Good Times. We completed our kitchen updates in all of our Good
Times stores which will allow us to meet our planned roll out of
our hotter, cheesier burger lineup and mid-tier priced burgers in
all stores during the first week of April with television
advertising support. In addition, our most recent Good Times
restaurant in Greeley, CO has experienced record sales in its first
two weeks of being open, and our newest Bad Daddy’s restaurant in
Fayetteville, NC continues to be one of our top-performing stores
in the system. We are opening our next new Bad Daddy’s stores in
Colorado in April and June, and in Raleigh, NC in May with three
more under development in North Carolina and Oklahoma for opening
in August and September.”
About Good Times Restaurants Inc.: Good Times Restaurants
Inc. (GTIM) operates Good Times Burgers & Frozen Custard, a
regional chain of quick-service restaurants located primarily in
Colorado, and its wholly owned subsidiary, Good Times Drive Thru
Inc. Good Times provides a menu of high-quality all-natural
hamburgers, 100% all-natural chicken tenderloins, fresh frozen
custard, natural-cut fries, fresh lemonades and other unique
offerings. Good Times currently operates and franchises a total of
38 restaurants.
GTIM owns, operates, franchises and licenses 20 Bad Daddy’s
Burger Bar restaurants through its wholly owned subsidiaries. Bad
Daddy’s Burger Bar is a full-service, upscale, “small box”
restaurant concept featuring a chef-driven menu of gourmet
signature burgers, chopped salads, appetizers and sandwiches with a
full bar and a focus on a selection of craft microbrew beers in a
high-energy atmosphere that appeals to a broad consumer base.
Good Times Forward-Looking Statements: This press release
contains forward-looking statements within the meaning of federal
securities laws. The words “intend,” “may,” “believe,” “will,”
“should,” “anticipate,” “expect,” “seek” and similar expressions
are intended to identify forward-looking statements. These
statements involve known and unknown risks, which may cause the
Company’s actual results to differ materially from results
expressed or implied by the forward-looking statements. These risks
include such factors as the uncertain nature of current restaurant
development plans and the ability to implement those plans and
integrate new restaurants, delays in developing and opening new
restaurants because of weather, local permitting or other reasons,
increased competition, cost increases or shortages in raw food
products, and other matters discussed under the “Risk Factors”
section of Good Times’ Annual Report on Form 10-K for the fiscal
year ended September 27, 2016 filed with the SEC. Although Good
Times may from time to time voluntarily update its forward-looking
statements, it disclaims any commitment to do so except as required
by securities laws.
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version on businesswire.com: http://www.businesswire.com/news/home/20170403005196/en/
Good Times Restaurants Inc.INVESTOR RELATIONS
CONTACTS:Boyd E. Hoback, 303-384-1411President and CEOorJim Zielke,
303-384-1432CFOorChristi Pennington, 303-384-1440
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