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 a licensee of Bad Daddy’s
Burger Bar, a full-service, upscale concept today announced that its
same store sales increased 13.7% in July 2014 over the prior year’s
increase of 18.4%, representing a two year increase of 32.1%, the tenth
consecutive month of two-year same store increases over 20% and an
acceleration of the recent 27-28% two year sales increases.
Boyd Hoback, President & CEO said, “The two-year increase of 32.1% in
our same store sales is a testament to the multi-layered drivers to our
growth in both transactions and average check per customer that include
product innovation and refinement in every menu category, a creative
marketing umbrella that is telling a compelling brand story, excellent
execution by our operations team and reinvestment in our facilities
through our remodeling and reimaging program. Last year’s growth was
primarily in transaction growth and this year we are seeing a
combination of growth in transactions as well as average check as a
result of price increases and menu mix shift. Our sales growth is
translating into a dramatic increase in our operating margins for Good
Times and in our growth in profitability.”
The Company also said it rolled out a new Hatch Valley Green Chile menu
the last week of July that includes authentic Green Chile Chicken,
Burger and Chorizo Tortas. Hoback added, “This introduction is further
support to our brand position of offering authentic regional ingredients
in handcrafted menu items that are unique to Good Times. We believe we
have some of the best green chile available in Colorado and our success
with Green Chile Cheese Fries and our Breakfast Burritos is a natural
opportunity to extend the offerings. The addition of a Chorizo sandwich
to the mix takes the taste profile to a whole new level.”
About Good Times Restaurants Inc.: Good Times Restaurants Inc.
(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