Good Times Restaurants Reports Fiscal 2019 Q1 Same Store Sales
January 09 2019 - 7:30AM
Business Wire
Bad Daddy’s Same Store Sales Increase
0.2%
Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad
Daddy’s Burger Bar, a full-service, upscale burger bar concept and
Good Times Burgers & Frozen Custard, a regional quick-service
restaurant chain focused on fresh, high-quality, all-natural
products, today announced that same store sales at its Bad Daddy’s
concept increased 0.2% during the quarter over the prior year’s
increase of 0.7%, which includes the loss of approximately ten
store days due to the snow storm in North Carolina. Same store
sales for its Good Times’ brand decreased 5.2% in its fiscal first
quarter ended December 25, 2018 over the prior year’s increase of
5.9%.
Boyd Hoback, President & CEO, said, “We continue to see same
store sales growth in our Bad Daddy’s brand, even with the loss of
sales due to harsher weather this year. Good Times was
significantly impacted by tougher weather in Colorado versus last
year and we attribute most, if not all, of the same store sales
decline this year to that. Last year had unusually warmer weather
with lower precipitation in Colorado in both our first and second
fiscal quarters so we anticipate a tough comparison again in our
second quarter at Good Times. However, the calendar shift for
Christmas this year has benefited Bad Daddy’s with some
acceleration in our sales trends so far in our third fiscal period.
Subsequent to the end of the quarter we opened our thirty fifth Bad
Daddy’s restaurant in Raleigh, North Carolina, which is our fourth
restaurant in that market.”
About Good Times Restaurants Inc.: Good Times Restaurants
Inc. (GTIM) owns, operates, franchises and licenses 35 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.
Additionally, through its wholly-owned subsidiaries, Good Times
Restaurants Inc. operates and franchises a regional quick-service
restaurant chain consisting of 35 Good Times Burgers & Frozen
Custard restaurants, located primarily in Colorado.
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 25, 2018 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: https://www.businesswire.com/news/home/20190109005085/en/
Good Times RestaurantsInvestor Relations Contacts:Boyd E.
Hoback, President and CEO (303) 384-1411Ryan Zink, CFO (303)
384-1432Christi Pennington (303) 384-1440
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