Good Times Restaurants Inc. (NASDAQ: GTIM) today announced a limited time offer menu of Hatch Valley New Mexico green chile items and an expanded test of its Hatch Valley breakfast burritos. The limited time menu consists of Green Chile Cheese Fries, a Green Chile Slider and a unique Green Chile Burger or Chicken with our green chile chutney and whole roasted green chiles.
Commenting on the new menu items, President & CEO, Boyd Hoback said, “Over the course of the last year, we tested every authentic green chile recipe in the market and developed an authentic roasted green chile flavor that has both a wide appeal but that has the kick of a true green chile found at most of the smaller genuine Mexican restaurants. The limited time offer menu coincides with the Hatch Valley Green Chile season and we plan on running it through October.”
The Company also reported that it has expanded its test of $2 Hatch Valley New Mexico Green Chile Breakfast Burritos to four restaurants in anticipation of a system-wide rollout later in 2012. Hoback added, “We did not want to come to market with another breakfast menu that is available at every other quick service restaurant but wanted to enter the daypart with a truly unique proposition that is consistent with our brand of providing innovative, authentic, regional flavors. Our initial goal is incremental sales of 6%, which we’ve achieved in test, with a longer term goal of over 10% incremental sales from the breakfast daypart. Our product and operations team have done a fantastic job of developing a simple menu of four authentic green chile burritos, all available at $2 each with a very profitable labor model. It’s a great value for the customer and comparable products are only available at the smaller Mexican restaurants. We estimate that at 8% of sales, it will generate an additional $1 million in profit to our system of restaurants with a low breakeven sales hurdle.”