Good Times Restaurants Inc. Reports 1st Quarter Sales Results

Good Times Restaurants Inc. (NASDAQ: GTIMD) today announced its fifth consecutive month of same store sales increases with December sales increasing 14.2% from the prior year and that its same store sales for the first quarter of fiscal 2011 increased 13.4%.

Commenting on the sales improvement, President & CEO Boyd Hoback said, “While we had the benefit of nicer weather this year compared to last year during our first quarter, we are seeing growth in transactions and our average guest check from the cumulative impact over the past several months of the introduction a new lower priced Craver Combo category, two fry alternatives with Fresh Cut Fries and our heritage Wild Fry, Fresh Hand Spun Custard Shakes in limited time holiday flavors and our limited time offer of Sweet Potato Waffle Cut Fries. We have additional innovative product introductions planned throughout the balance of the fiscal year along with new twists and improvements to our core product lineup.” Regarding other initiatives, Hoback added, “Commodity costs will remain a challenge this year with pressure on our cost of sales, however our focus is on rebuilding compounding sales growth as the macroeconomic environment improves. We plan to implement additional product innovations and operational initiatives for our customers that will challenge quick service norms, invigorated with new creative execution by a new marketing team. We look forward to improved profitability and pursuing other strategic alternatives for our shareholders with the recent capital infusion from Small Island Investments Ltd.”

Good Times is a regional chain of quick service restaurants located primarily in Colorado providing a menu of high-quality all-natural hamburgers, 100% breast of chicken sandwiches, fresh frozen custard, fresh squeezed lemonades and other unique offerings. Good Times currently operates and franchises 49 restaurants.

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 Good Times’ 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, 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 30, 2009 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.

Good Times Restaurants Inc. (MM) (NASDAQ:GTIMD)
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