Good Times Restaurants (GTIM) Q4 Comps Rose 6.8%

Good Times Restaurants (NASDAQ: GTIM) announced that its Good Times’ same store sales increased 6.8% in its fourth fiscal quarter ended September 30, 2015 over the prior year’s increase of 11.9%, and that its three year compound increase in same store sales was 40.2%. The Company reported that its Bad Daddy’s same store sales also increased 6.8% during the quarter.

Boyd Hoback, President & CEO, said, “We are very pleased to have met our goal of low to mid-single digit same store sales increases for the quarter especially as we lap the largest two-year comp sales stack we’ve had of over 30% at Good Times. The synergy of our overall brand initiatives, product innovation, store remodeling and marketing platform performance around all of these elements continues to drive our impressive comp sales. Our TV campaign during the quarter featuring our housemade pickles was a success, and we anticipate continued success in the next quarter as we feature our Jalapeno Cream Cheese burger made with Meyer Ranch All Natural Angus Beef. The Bad Daddy’s same store sales comp group of stores is small so individual store performance impacts the overall trend significantly, and we expect low single digit growth in fiscal 2016 due to the high sales volumes already being generated.”

The Company also reiterated that it expects to open eight to ten Bad Daddy’s Burger Bar restaurants in 2016. Three of those locations are currently under construction and leases have been signed on four additional locations with more in late stages of negotiation. Hoback added, “We are very pleased with the robust real estate pipeline for fiscal 2016 and have already started working on sites for fiscal 2017. Beginning in late October, we’ll start seeing one new Bad Daddy’s opening each month for the next several months.”

The Company said that it expects to provide further growth and revenue guidance for fiscal 2016 and further Bad Daddy’s same store sales information in its fiscal year end earnings call.

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