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 same store
sales increased 12.6% in May, 2014 over the prior year’s increase of
16.1%, representing a two year increase of 28.7%, the eighth consecutive
month of two-year same store increases over 20%. The Company reiterated
that it will continue to report monthly same store sales only so long as
they are material.
Boyd Hoback, President & CEO said, “Well, there’s been no moderation of
our sales increase trend yet, but I want to reiterate that our pace of
increases will inevitably begin to flatten out. However, we have
successfully established a much higher foundation of sales and
significant expansion in our restaurant profit margins with over fifteen
consecutive quarters of same store sales increases. I wish I could point
to one driver of our sales increases, but it continues to be the
cumulative effect of driving our overall brand position initiatives
deeper combined with a high level of execution and upgrading our
graphics and building standards to a consistent level. Kudos go to our
operations team for consistently delivering on our core customer
experience that we believe is better than any of our competitors as well
as effectively executing new product rollouts. Our remodeling and
reimaging program is on track with approximately 50% of our planned
stores completed and we are excited about our summer frozen custard
promotion with television ad support featuring Truffle Spoonbenders and
our lineup of Banana Shake flavors.”
The Company also said it expects to open its second Bad Daddy’s Burger
Bar restaurant in Colorado on or about July 21 in Northglenn, Colorado
and is planning a third to open prior to the end of this calendar year
as a licensee of the Bad Daddy’s concept through its wholly owned
subsidiary BD of Colorado LLC.
About Good Times Restaurants Inc.: Good Times Restaurants Inc.
(Nasdaq:GTIM) operates Good Times Burgers & Frozen Custard, a regional
chain of quick service restaurants located primarily in Colorado, in 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, fresh cut fries, fresh lemonades and
other unique offerings. Good Times currently operates and franchises 36
restaurants.
GTIM owns and operates Bad Daddy’s Burger Bar restaurants as a licensee
through its wholly owned subsidiary, BD of Colorado LLC and plans to
franchise Bad Daddy’s Burger Bar restaurants through its 48% ownership
of Bad Daddy’s Franchise Development LLC. 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, 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, 2013 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.
Copyright Business Wire 2014