Calls to Good Times seeking comment were returned via email. "Pursuant to our announcement earlier this year that we are seeking investment alternatives to increase shareholder value, we are not able to speak to the media at this time," the email to TheStreet read.
Elsewhere in the fast food sector McDonald's (MCD) last week posted double-digit profit gains for its recent quarter, beating Wall Street's expectations as its low-priced Dollar Menu and expanded coffee drink offerings buoyed sales. Rival Burger King Holdings (BKC) booked top- and bottom-line declines in its most recent quarter, which CEO John Chidsey said was a result of high levels of unemployment.
In May, Good Times said it lost $1.2 million, or 31 cents per share, in its second quarter ended March 31. In the year-earlier period Good Times had lost just $481,000, or 13 cents per share. The fast food chain also posted a 9.3% decline in quarterly revenues to $4.9 million. Good Times is expected to report its current quarter financials on August 30.
-- Reported by Miriam Marcus Reimer from New York.
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