GTIM Good Times Restaurants Inc

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
July 18, 2023
Good Times Restaurants Inc.
(Exact name of registrant as specified in its charter)
Nevada		000-18590		84-1133368
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)
651 Corporate Circle, Suite 200, Golden, CO 80401
(Address of principal executive offices including zip code)
Registrant’s telephone number, including area code: (303) 384-1400
Not applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):   ☐         Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐         Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐         Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐         Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 par value		GTIM		Nasdaq Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).   Emerging growth company ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

		GOOD TIMES RESTAURANTS INC.
Date:	July 18, 2023	By:
			Ryan M. Zink
			Chief Executive Officer

Exhibit 99.1

GOOD TIMES RESTAURANTS REPORTS
THIRD FISCAL QUARTER SAME STORE SALES

(GOLDEN, CO) Good Times Restaurants Inc. (GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that same store sales¹ increased 2.2% for its Good Times brand and decreased 1.4% for its Bad Daddy’s brand, and that average weekly sales² were $31,073 and $52,081 for its Good Times and Bad Daddy’s brands, respectively, for its third fiscal quarter ended June 27, 2023.

Ryan Zink, President and CEO, said “In spite of unfavorable weather comparisons in Colorado we again reported positive same store sales at our Good Times restaurants. At Bad Daddy’s, we reported a decline in same store sales. The sales losses were concentrated in our Atlanta and Chattanooga markets. In contrast, our Bad Daddy’s Colorado market performed remarkably well in sales, growing same store sales by 2.1%. I am very pleased with the hard work and dedication by our teams as they continue to deliver a great experience to our guests.”

About Good Times Restaurants Inc.: Good Times Restaurants Inc. owns, operates, and licenses 40 Bad Daddy’s Burger Bar restaurants through its wholly owned subsidiaries. Bad Daddy’s Burger Bar is a full-service “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 local and craft beers in a high-energy atmosphere that appeals to a broad consumer base. Additionally, through its wholly owned subsidiaries, Good Times Restaurants Inc. owns, operates and franchises 31 Good Times Burgers & Frozen Custard restaurants primarily in Colorado. Good Times is a regional quick-service concept featuring 100% all-natural burgers and chicken sandwiches, signature wild fries, green chili breakfast burritos and fresh frozen custard desserts.

Forward Looking Statements Disclaimer: 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. Such risks and uncertainties include, among other things, the market price of the Company's stock prevailing from time to time, the nature of other investment opportunities presented to the Company, the Company's financial performance and its cash flows from operations, general economic conditions, which could adversely affect the Company's results of operations and cash flows. These risks also include such factors as the disruption to our business from the COVID-19 pandemic and the impact of the pandemic on our results of operations, financial condition and prospects which may vary depending on the duration and extent of the pandemic and the impact of federal, state and local governmental actions and customer behavior in response to the pandemic, the impact and duration of staffing constraints at our restaurants, the impact of supply chain constraints and the current inflationary environment, 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, 2022 filed with the SEC, and other filings with the SEC.

¹ Same store sales include all company-owned restaurants currently open with at least 18 full fiscal months of operating history and for Bad Daddy’s excludes the Cherry Creek location which was closed prior to the current quarter and excludes the Magnolia Park location during the fiscal periods it was closed for remodeling.

² Average weekly sales include all company-owned restaurants open for the full fiscal quarter and for Bad Daddy’s excludes the and for Bad Daddy’s excludes the Cherry Creek location which was closed prior to the current quarter and excludes the Magnolia Park location during the fiscal periods it was closed for remodeling.

GOOD TIMES RESTAURANTS INC CONTACTS:

Ryan M. Zink, President and Chief Executive Officer (303) 384-1411

Christi Pennington (303) 384-1440

Category: Financial

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