Good Times Restaurants Inc. (Nasdaq:GTIM) announced that its same store sales increased 12.6% in May, 2014 over the prior year’s increase of 16.1%, representing a two year increase of 28.7%, the eighth 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, “Well, there’s been no moderation of our sales increase trend yet, but I want to reiterate that our pace of increases will inevitably begin to flatten out. However, we have successfully established a much higher foundation of sales and significant expansion in our restaurant profit margins with over fifteen consecutive quarters of same store sales increases. I wish I could point to one driver of our sales increases, but it continues to be the cumulative effect of driving our overall brand position initiatives deeper combined with a high level of execution and upgrading our graphics and building standards to a consistent level. Kudos go to our operations team for consistently delivering on our core customer experience that we believe is better than any of our competitors as well as effectively executing new product rollouts. Our remodeling and reimaging program is on track with approximately 50% of our planned stores completed and we are excited about our summer frozen custard promotion with television ad support featuring Truffle Spoonbenders and our lineup of Banana Shake flavors.”
The Company also said it expects to open its second Bad Daddy’s Burger Bar restaurant in Colorado on or about July 21 in Northglenn, Colorado and is planning a third to open prior to the end of this calendar year as a licensee of the Bad Daddy’s concept through its wholly owned subsidiary BD of Colorado LLC.
About Good Times Restaurants Inc.: 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 36 restaurants.
GTIM owns and operates Bad Daddy’s Burger Bar restaurants as a licensee through its wholly owned subsidiary, BD of Colorado LLC and plans to 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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