Good Times Reports April Same Store Sales +14.4%
- May, 5 2014
- Good Times
Good Times Restaurants Inc. (NASDAQ:GTIM announced that its same store sales in April, 2014 increased 14.4% over the prior year, representing a two year increase of 25.8%. The Company reported that April’s 25.8% increase over the past two years is the seventh consecutive month of two-year same store increases over 20%. The Company reiterated that it will continue to report monthly same store sales only so long as they are material.
Boyd Hoback, President & CEO said, “We expected to begin to see some moderation in the rate of sales increase over prior year as we are comparing to very strong, double digit growth from last spring that began in April, however that wasn’t the case and we had slightly nicer weather this year which contributed to the remarkable increase. We still expect year over year sales comps to begin to moderate somewhat for the balance of the fiscal year, but our two year trend continues to be very encouraging and it continues to translate to a dramatic increase in our restaurant profitability.”
The Company also reported that it is planning to rollout a new television ad campaign focused on its frozen custard products later in May. Hoback added, “The new television campaign will be consistent with the 'handcrafted, illustrated' style of the ads we’ve run over the course of the last year but will focus on our new Truffle Spoonbenders along with our selection of Hand Spun Banana Shakes that have historically been very successful for us as a summer promotion. This will be the first time we’ve been on broadcast advertising with frozen custard in several years, so we anticipate growth in the category’s sales mix as well as continued growth in customer transactions.”
Good Times Restaurants Inc. (NASDAQ:GTIM) operates Good Times Burgers & Frozen Custard, a regional chain of quick service restaurants located primarily in Colorado, in its wholly owned subsidiary, Good Times Drive Thru Inc. Good Times provides a menu of high quality all natural hamburgers, 100% all natural chicken tenderloins, fresh frozen custard, fresh cut fries, fresh lemonades and other unique offerings. Good Times currently operates and franchises 37 restaurants.
GTIM owns and operates Bad Daddy’s Burger Bar restaurants through its wholly owned subsidiary, BD of Colorado LLC and will franchise Bad Daddy’s Burger Bar restaurants through its 48% ownership of Bad Daddy’s Franchise Development LLC. Bad Daddy’s Burger Bar is a full service, upscale, “small box” restaurant concept featuring a chef driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches with a full bar and a focus on a selection of craft microbrew beers in a high energy atmosphere that appeals to a broad consumer base.
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