Good Times Restaurants Reports Fourth 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 increased 2.4% for its Good Times brand and decreased 4.9% for its Bad Daddy’s brand for its fourth fiscal quarter ended September 26, 2023 compared to the prior fiscal quarter and for the year then ended, same store sales increased 3.7% and 0.1% for its Good Times and Bad Daddy’s brands, respectively, compared to the prior fiscal year.

Ryan Zink, President and CEO, said “Our Good Times brand continues to perform well in this increasingly challenging consumer environment. The investments we have made in this brand, through digital menu boards, signs and imaging, and our mobile app, in concert with the increased focus on friendliness and hospitality in our drive-thrus have enabled Good Times to continue its streak of positive same sales performance. Bad Daddy’s saw worsening declines throughout the quarter as we experienced broad-based reductions in traffic and increased check management activity by our guests. Our management team is fiercely focused on delivering value, consistent with our brand position, in a market that has seen increasing discounting activity to drive a turnaround in sales and traffic.”

“We are extremely encouraged by sales results at our new Bad Daddy’s in Madison, Alabama, a suburb of Huntsville, that opened in August. Average weekly sales in Madison are trending 50% higher than our overall system average,” Zink concluded.

¹ Same store sales include all Company-owned restaurants currently open with at least 18 full fiscal months of operating history and for Good Times includes currently open Company-owned restaurants acquired from former franchisees beginning with the first full fiscal month under Company ownership.