Good Times Restaurants (GTIM) Announces Q4 Same Store Sales

Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar, a full-service, upscale burger bar concept, and Good Times Burgers & Frozen Custard, a regional quick-service restaurant chain focused on fresh, high-quality, all-natural products, today announced that its Bad Daddy’s adjusted same store sales increased 0.7% during the quarter over the prior year’s increase of 1.4%, excluding the impact of Hurricane Florence during which the concept experienced closures for seven store days, including five store days among the base of comparable stores as well as reduced traffic in its North Carolina restaurants in the days immediately preceding and succeeding landfall. Bad Daddy’s same store sales decreased 0.7% for the quarter including the lost sales due to the hurricane. Same store sales for its Good Times’ brand increased 0.5% in its fiscal fourth quarter ended September 25, 2018 over the prior year’s increase of 3.9%.

Boyd Hoback, President & CEO, said, “Although this represents a break in our positive comparable sales streak due to the impact of Hurricane Florence, on an adjusted basis, comparable sales were in-line with our guidance and represents a slight acceleration from our third quarter’s comparable sales, and would have been our fourteenth consecutive quarter of positive comparable sales. We are grateful that we did not experience any property damage and that our employees and their families were safe. Additionally, during the last week of our fiscal year we opened Bad Daddy’s Burger Bar restaurants in Roswell, GA and Greenville, SC, bringing our total restaurants opened during fiscal 2018 to nine and we expect to open two additional Bad Daddy’s restaurants during our first fiscal quarter of 2019.”

Regarding Good Times results, Hoback added, “We saw our seventh consecutive quarter of positive comparable sales at Good Times during which we did not have significant product or price news in our advertising. Subsequent to the quarter’s end we rolled out All Natural Boneless Buffalo Wings and our $5 West Coast Double Cheeseburger Combo.”

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