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Good Times Restaurants Inc. Announces First Quarter Sales Increase

Stocks in this article: GTIM

Good Times Restaurants Inc. (NASDAQ: GTIM) today announced its same store sales increased 11.6% for the month of December and 3.8% for its first fiscal quarter. Sales for the new breakfast daypart featuring authentic Hatch Valley Green Chile Breakfast Burritos were approximately 5.9% for the quarter, which was rolled out system-wide throughout the quarter.

Commenting on the sales trends, President & CEO, Boyd Hoback said, “We have had a cumulative increase in same store sales in excess of 20% over the last three years in our first quarter and we are excited about additional initiatives planned for this year to continue our momentum. This year we benefitted from the addition of the new breakfast daypart and we’ve achieved the cumulative sales increases largely without any significant broadcast media advertising, which we plan to revive in the third and fourth quarters to promote new, unique product offerings centered around fresh, all natural, authentic ingredients.”

The company reported that several of its restaurants are exceeding 9% in total breakfast sales during their first three months’ of introduction, aided by trade area giveaways and the Company’s first direct mail campaign in several years. Hoback added, “We are gaining traction faster than we had anticipated for sales of our Hatch Valley Green Chile Breakfast Burritos due to the authenticity and uniqueness of the product that is not available anywhere else, other than at smaller Mexican restaurants. We anticipate that the breakfast sales will add incremental profit during the remainder of our fiscal year as we fine tune the labor requirements and decrease our promotional activities.”

The Breakfast Menu consists of four Hatch Valley Green Chile Breakfast Burritos available as Egg & Cheese or with Chorizo, Sausage or Bacon and also includes Daz Bog coffee and fresh orange juice. Daz Bog is a premium Colorado coffee available in retail stores and restaurants.

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