Good Times Restaurants Inc.
(Nasdaq:GTIM) today announced its same store sales increased 18.7% for the month of August, its fifth consecutive month of double-digit increases. The Company said that it is on track for its thirteenth consecutive quarter of same store sales increases and that based on the current trend, it expects to finish its fiscal 2013 with a double-digit increase in same store sales for the year.
“We are thrilled with our results and at the risk of sounding like a broken record, I can’t overstate the significance of the fact that our sales are being driven by the results of multiple initiatives that are aligned around our brand position – a fresh, new marketing campaign telling our all natural `story of no' for our burgers and chicken categories (no hormones, no antibiotics, no steroids, vegetarian fed, humanely raised) plus flavorful regional ingredients such as our new Hatch Valley New Mexico green chile menu and breakfast burritos, a high level of execution by our operations team and early stage exterior reimaging of older restaurants,” said Boyd Hoback, President & CEO.
The Company also again reported that it expects to accelerate the pace of remodeling and reimaging of its older Good Times restaurants and increase the number of Bad Daddy’s Burger Bar restaurants in the development pipeline. Hoback added, “With increasing cash flow from operations and over $6.5 million of cash and no debt on our balance sheet, we are on track with our business plan to maintain our momentum in Good Times and increase the number of Bad Daddy’s restaurants we are developing. Our reimaging projects are showing promising sales results as well as updating our overall brand image in the market and we are excited about the potential high return on investment model that Bad Daddy’s has shown in the existing restaurants. We believe Bad Daddy’s will be a platform for robust company-owned and franchised growth.”