Good Times Restaurants Inc. (Nasdaq: GTIM), a regional restaurant company focused on operating and developing Good Times Burgers & Frozen Custard and Bad Daddy’s Burger Bar restaurants, today announced its same store sales for its Good Times restaurants increased 26% for the month of October, its seventh consecutive month of double-digit increases. The Company reiterated that while it does not normally release all monthly sales results, it plans to continue to release monthly same store sales results because the trend is so significant.
Commenting on the sales results, Boyd Hoback, President & CEO said, “Our breakfast sales increased to almost 9.5% of total sales for the month, supported by our television campaign on Hatch Valley New Mexico Green Chile that featured our breakfast burritos. December of 2013 was the first full month we had breakfast implemented, so we are thrilled to be pushing 10% sales mix in only nine months and we estimate our flow through to restaurant level profit to be approximately 25% from the new daypart sales. The remaining 16.5% sales increase was almost entirely due to growth in transactions with a very minor 3.9% increase in average check per person.”
The Company also said that it plans to begin a new television ad on November 4 featuring its hand-breaded, all-natural Boneless Buffalo Wings for a limited time. Hoback added, “Our `illustrated brand' television campaign that features an animated illustrated brand story about our all-natural and local ingredient product platform has been a part of our tremendous sales gains over the last nine months and we plan to continue it in the coming months, talking about products and product attributes that are unique to Good Times. It is clearly resonating with our customers along with all of the product improvements we’ve implemented over the last two years.”
About Good Times Restaurants Inc.
Good Times Restaurants Inc. (GTIM) is a regional chain of quick service restaurants located primarily in Colorado providing a menu of high-quality all-natural hamburgers, 100% all-natural chicken tenderloins, fresh frozen custard, fresh-cut fries, fresh lemonades and other unique offerings. Good Times currently operates and franchises 38 restaurants.
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, family friendly atmosphere. Bad Daddy’s has received both local and national accolades for the quality and originality of its food and was most recently named a top 25 burger in the U.S. by USA Today.
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 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, 2012 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.
Investor Relations Contacts:
Boyd E. Hoback, 303-384-1411
President and CEO
Christi Pennington, 303-384-1440
Booke & Co. (email@example.com)
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