Good Times Restaurants (GTIM) Q1 Comps Increase 5.9%

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 5.9% in its fiscal first quarter ended December 26, 2017 over the prior year’s decrease of 0.5%, and its Bad Daddy’s same store sales increased 0.7% during the quarter over the prior year’s increase of 2.0%. Excluding the Cherry Creek location which continues to be impacted by construction in the surrounding area, Bad Daddy’s adjusted same store sales increased 1.3% for the quarter.

Boyd Hoback, President & CEO, said, “We saw our sixth consecutive quarter of sequential improvement in our same store sales at Good Times, and exceeded our expectations of 3.0% to 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 expanded Kids Meals at $3 helped drive traffic and the weather was a mixed bag during the quarter, however we benefited from a string of warm, dry weather in Colorado in December when Good Times’ same store sales increased 10.4%.”

Regarding Bad Daddy’s results, Hoback added, “Our Bad Daddy’s brand also performed very well, posting positive comp sales for the eleventh consecutive quarter. The Bad Daddy’s restaurants we opened during fiscal 2017 on average continue to perform above our systemwide average weekly sales and the two new Bad Daddy’s that opened at the beginning of the quarter opened exceptionally strong and continue to post above average results. We expect to open our first Bad Daddy’s in the Atlanta metro area on January 8, 2018 with six additional Bad Daddy’s this fiscal year.”

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