Good Times Restaurants Announces Second Quarter Same-Store Sales

GOLDEN, Colorado–(BUSINESS WIRE)–Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that comparable store sales* for its second quarter ended March 29, 2022 had decreased by 0.9% for its Good Times Times compared to the same quarter of the previous year and increased by 15.5% for its brand Bad Daddy’s compared to the same quarter of the previous year. Average weekly sales during the second quarter of 2022 among restaurants open for at least 18 months were $25,469 for the Company’s Good Times restaurants and $50,405 for the Company’s Bad Daddy’s restaurants. Additionally, during the last week of the fiscal quarter, the company completed the acquisition of a Bad Daddy’s restaurant in Greenville, South Carolina, which was previously owned by a franchisee. As a result of this acquisition, the Company owns and operates all of its Bad Daddy’s Burger Bar restaurants other than its licensee at Charlotte Douglas International Airport.

Ryan Zink, President and CEO, said, “I am very pleased with the purchase of former Bad Daddy’s Burger Bar franchisee in Greenville. In addition to acquiring the restaurant itself, we have acquired a talented management team who we hope will continue to operate this restaurant to our high standards of operational excellence. This acquisition expands our presence in the Greenville market to two company-owned restaurants. »

Zink continued, “Each quarter our managers and team members impress me with their commitment to good food and hospitality despite the unpredictable nature of our industry. Their continued optimism and determination to meet any challenge that comes their way is reflected in the continued strength of both brands. I continue to be pleased with the sales generated by our restaurants, which are a direct result of the performance and efforts of our leaders and team members across the company.

*Comparable store sales include all currently open company-owned restaurants with at least 18 complete fiscal periods of operating history.

About Good Times Restaurants Inc.: Good Times Restaurants Inc. owns, operates and licenses 42 Bad Daddy’s Burger Bar restaurants through its wholly owned subsidiaries. Bad Daddy’s Burger Bar is a “small box” full-service restaurant concept featuring a chef-led menu of gourmet burgers, chopped salads, appetizers and sandwiches with a full bar and an emphasis on a selection of beers local and artisanal in a high-energy atmosphere that appeals to a broad consumer base. Additionally, Good Times Restaurants Inc. operates and franchises a regional drive-thru chain of 31 Good Times Burgers & Frozen Custard restaurants located primarily in Colorado.

Disclaimer Regarding Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the federal securities laws. The words “intend”, “may”, “believe”, “will”, “should”, “anticipate”, “expect”, “seek” and similar expressions are intended to identify forward-looking statements . These statements involve known and unknown risks, which may cause the Company’s actual results to differ materially from the results expressed or implied by the forward-looking statements. These risks and uncertainties include, among others, the market price of the Company’s shares prevailing from time to time, the nature of other investment opportunities presented to the Company, the Company’s financial performance and its cash flows from operating conditions, general economic conditions, which could adversely affect the Company’s results of operations and cash flows. These risks also include factors such as the disruption of our business by the novel coronavirus (COVID-19) pandemic and the impact of the pandemic on our results of operations, financial condition and outlook, which may vary depending on the duration and extent of the pandemic. and the impact of federal, state and local government actions and customer behavior in response to the pandemic, the impact and duration of staffing constraints at our restaurants, the uncertain nature of current restaurant development plans and capacity to implement these plans and to integrate new restaurants, delays in the development and opening of new restaurants due to weather conditions, local permits or other reasons, increased competition, cost increases or shortages of raw food products, and other matters discussed in the Risk Factors section of Good Times’ Annual Report on Form 10-K for the fiscal year ended September 28, 2021 filed with the SEC, and other filings with of the SEC. Good Times disclaims any obligation or duty to update or modify these forward-looking statements.

Category: Financial

Richard Dement

The author Richard Dement