Good Times Restaurants (GTIM) Reports Q2 Same Store Sales Increased 7.1%

Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Good Times Burgers & Frozen Custard, a regional quick-service restaurant chain focused on fresh, high-quality, all-natural products, and of Bad Daddy’s Burger Bar, a full-service, upscale concept, today announced that its Good Times’ same store sales increased 7.1% in its fiscal second quarter ended March 27, 2018 over the prior year’s increase of 0.5%, and its Bad Daddy’s same store sales increased 0.2% during the quarter over the prior year’s increase of 3.2%. Excluding the Cherry Creek location which continues to be impacted by construction in the surrounding area, Bad Daddy’s adjusted same store sales increased 0.7% for the quarter.

Boyd Hoback, President & CEO, said, “We saw our seventh consecutive quarter of sequential improvement in our same store sales at Good Times, and significantly exceeded our guidance of 3.5% comps during the quarter. We are very pleased with our results during the quarter, as we continue to compete in an environment with significant discounting in both of our competitive segments. The introduction of our Spicy Chicken Sandwich in March helped drive traffic, supported by media during the final three weeks in March, a month when Good Times’ same store sales increased 8.9%.”

Regarding Bad Daddy’s results, Hoback added, “Our Bad Daddy’s brand also performed very well, posting positive comp sales for the twelfth consecutive quarter. For the quarter, our average weekly sales for Bad Daddy’s restaurants opened during fiscal 2017 and 2018 were $52,600, annualizing solidly above our $2.5 million new unit target taking into account that our second quarter is typically seasonally our slowest quarter. Our first Atlanta store opened in January is exceeding expectations; we opened our first Tennessee Bad Daddy’s in Chattanooga on April 2nd and are on track for five additional new Bad Daddy’s this year.”

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