Good Times Reports Q2 Same Store Sales Increases

DENVER–(hospitalitybusinessnews.com)–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 Good Times’ same store sales increased 0.5% in its second fiscal quarter ended March 31, 2016 over the prior year’s increase of 8.2%, and that its three year compound increase in same store sales was 27.1%. The Company reported that its Bad Daddy’s same store sales also increased 1.9% during the quarter.

Boyd Hoback, President & CEO, said, “We are again very pleased with our second quarter sales at Good Times and Bad Daddy’s, particularly in light of the weather impact on both brands’ sales in January and March as well as the impact of the timing of the Easter holiday in March this year versus April last year. We estimate that sales for both brands were negatively impacted by the Easter shift by approximately 0.5% for the quarter. In addition, severe weather in North Carolina in January and in Colorado in March resulted in restaurant closures that impacted Bad Daddy’s sales by approximately 1.9% for the quarter.”

The Company also said that it has opened three new Bad Daddy’s since January 1, 2016. Hoback added, “We opened our eighth Bad Daddy’s restaurant in Colorado at the Shops at Briargate in Colorado Springs this week, which makes a total of five new stores opened since the beginning of the fiscal year. Importantly, our average weekly sales based on seasonality for the new stores exceeded our target of $2.5 million annual volume during the quarter. We believe that bodes well for the new stores as we move into our prime sales seasons during our third and fourth fiscal quarters.”

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