Good Times Restaurants Inc.
(Nasdaq:GTIM), a regional restaurant company focused on operating and developing Good Times Burgers & Frozen Custard and Bad Daddy’s Burger Bar restaurants, today announced its same store sales for its Good Times restaurants increased 14.1% for the month of November on top of an 8.4% same store sales increase in the prior year. November was its eighth consecutive month of double digit same store increases. The Company reiterated that while it does not normally release all monthly sales results, it plans to continue to release monthly same store sales results because the trend is so significant.
Commenting on the sales results, Boyd Hoback, President & CEO said, “We are beginning to lap our sales comps from the prior year that include the introduction of breakfast, which was fully implemented by the end of November 2012. Breakfast sales totaled approximately 6% of sales during the month last year and are still running just shy of 10% this year, so we continue to see growth in our core menu sales and overall transactions. Importantly, we are seeing increased flow through to our bottom line and expect that our first fiscal quarter profitability for our core Good Times business will be significantly improved over prior year, as we invest in the preopening and ramp up for the growth of Bad Daddy’s Burger Bar.”
The Company also said that it is on track to open its first Bad Daddy’s Burger Bar in Colorado in January with additional sites in the pipeline for 2014 development. Hoback added, “We have had our operations team involved with Bad Daddy’s for the last several months in North Carolina and are excited for our first store to be under construction. We have been working with the Bad Daddy’s team on operational, training and support systems and hope to have our first franchise development agreements signed after the first of the year.”