Good Times Restaurants (GTIM) Reports Second Quarter Same Store Sales
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Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that year-over-year same store sales for its Good Times brand increased 22.9% for its second fiscal quarter ended March 30, 2021. Year-over-year same store sales at its Bad Daddy’s brand increased 9.1% during the quarter compared to its fiscal 2020 second quarter, driven by reductions in COVID-19-related restrictions late in the quarter and the rollover of initial prior-year impacts of the pandemic during the last half of March. Same store sales and average weekly sales at Bad Daddy’s and Good Times for each month of the quarter are as follows:
|
| Good Times Burgers & Frozen Custard |
| Bad Daddy’s Burger Bar | ||||
Fiscal Period |
| Same Store Sales1 |
| Average Weekly Sales2 |
| Same Store Sales1 |
| Average Weekly Sales2 |
|
|
|
|
|
|
|
|
|
January (4 weeks) |
| 24.2% |
| 25,833 |
| -8.3% |
| 40,297 |
February (4 weeks) |
| 22.4% |
| 25,165 |
| -4.2% |
| 42,159 |
March (5 weeks) |
| 22.2% |
| 25,969 |
| 41.6% |
| 47,457 |
Second Quarter 2021 |
| 22.9% |
| 25,680 |
| 9.1% |
| 43,624 |
YTD 2021 |
| 22.5% |
| 26,065 |
| -1.8% |
| 41,240 |
1 | Same store sales include all company-owned restaurants currently open with at least 18 full fiscal periods of operating history. | |
2 | Average weekly sales include all company-owned restaurants. |
Ryan Zink, President & CEO, said: “We are pleased to report strong sales for both brands in our second fiscal quarter. We continue to see sequential improvement in average weekly sales at Bad Daddy’s as customers return to on-premises dining and our Good Times concept continues to post impressive sales in spite of reduced pandemic-related restrictions and increased consumer confidence in on-premise dining, which we attribute to improved awareness generated during the pandemic, and our laser-focus on accuracy and speed of service.
“We continue to focus on staffing our restaurants and operating safely in consideration of the impacts of COVID-19. To that end, we have implemented an incentive program that provides financial incentives for each employee who receives up to two COVID-19 vaccinations between March and June of this year. Further, we are not immune to staffing challenges facing restaurants, and other industries, and we continue to focus efforts toward programs that will allow us to aggressively compete with other companies and concepts for talented employees that are the heart and soul of each restaurant.”
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