Good Times Restaurants (GTIM) Reports Q1 Same Store Sales

Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that same store sales1 increased 4.1% for its Good Times brand and decreased 6.2% for its Bad Daddy’s brand for its first fiscal quarter ended December 26, 2023 compared to the same prior-year fiscal quarter.

Ryan Zink, President and CEO, said “Our Good Times brand has continued to deliver positive same store sales in spite of a challenging operating environment, reflecting the strong company-owned restaurant operations and the impact of our restaurant refresh program. Bad Daddy’s sales during the first quarter reflects the challenges facing that brand, and though top line trends had improved throughout December, sales have softened again in January, which was an unseasonably strong month in the prior year, ranking third of all months of the 2023 fiscal year in average weekly sales for the concept.”

“We continue to execute strategies to profitably grow sales and traffic including launching system-wide drink specials and late night happy hour beginning on January 17, 2024, and a new cocktail lineup launching during the month of February as we renew our focus on bar execution. In addition to this coming spring’s established seasonal food and beverage specials, we anticipate the addition of new core menu items that will expand the price range covered by our menu, offering everyday value on products that still match the flavor, presentation, and overall culinary excellence expected of all of our menu items, and will mark the return of chef-created salmon and turkey `Non-Burger Burger' builds to our core menu,” Zink continued.

Mr. Zink concluded, “My confidence in both brands remains positive, reinforced by five Bad Daddy’s, in three different states, achieving new single-store weekly sales records, and our Madison, Alabama restaurant posting its second highest sales week since opening, during the first week of the second fiscal quarter.”

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