Good Times Restaurants Reports First Fiscal Quarter 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 for its first fiscal quarter ended December 27, 2022 increased 3.0% for its Good Times brand and increased 2.4% for its Bad Daddy’s brand, and that average weekly sales² during the first fiscal quarter were $26,797 and $49,180 for its Good Times and Bad Daddy’s brands, respectively.

Ryan Zink, President and CEO, said, “The sales performance of both of our brands during the first fiscal quarter are the result of the strong sense of ownership by our restaurant managers, the diligent effort of the entire team, and our concepts’ resonance with their customers. During the quarter, average year-over-year menu prices increased from the same prior-year quarter by 7.9% at Good Times and 5.4% at Bad Daddy’s. Our stronger pricing at Good Times reflects our efforts to combat the more intense inflationary pressures we are experiencing in Colorado and our price increases at Bad Daddy’s similarly have been more aggressive in Colorado than those in other markets. I continue to be impressed with our team’s ability to deliver top line sales performance in the hyper-competitive environment in which both of our brands operate.”

¹ Same store sales include all company-owned restaurants currently open with at least 18 full fiscal months of operating history.

² Average weekly sales include all company-owned restaurants.