Good Times Restaurants Inc. Reports Improved Sales Trends
Good Times Restaurants Inc. (NASDAQ: GTIM) today announced that its same store sales declines have reversed to a positive trend, from a decline of 1.7% in July to increases of +.4% in August and approximately +7% in September. Commenting on the recent same store sales trends, President & CEO Boyd Hoback said, “Our recent turnaround in sales trends reflects traction with consumers around several menu initiatives over the last six months including establishing our longer term value proposition around $2.89 Craver Combos, introducing Fresh Cut Fries and Hand Spun Custard Shakes and other product enhancements to improve and differentiate Good Times from the mainstream fast food pack. We recently rolled out Sweet Potato Waffle Fries as a seasonal limited time offering and are seeing very good results and anticipate that we will be able to continue to see improvements from last year’s poor sales trend. We have additional product launches planned and a new strategic marketing team that will leverage our historical brand personality.”
The Company also reported that it is continuing to seek and negotiate strategic financing alternatives for additional growth and working capital.
Good Times is a regional chain of quick service restaurants located primarily in Colorado providing a menu of high-quality all-natural hamburgers, 100% breast of chicken sandwiches, fresh frozen custard, fresh squeezed lemonades and other unique offerings. Good Times currently operates and franchises 49 restaurants.
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-KSB for the fiscal year ended September
30, 2009 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.
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