Good Times Continues Double Digit Sales Gains
+18.2% for Fiscal Q4
GOLDEN, Colo. -- October 4, 2013
Good Times Restaurants Inc. (Nasdaq:GTIM), a regional restaurant company
focused on operating and developing Good Times Burgers & Frozen Custard and
Bad Daddy’s Burger Bar restaurants, today announced its same store sales for
its Good Times restaurants increased 18.2% for its fiscal fourth quarter, the
thirteenth consecutive quarter of same store sales increases, and increased
17.4% for the month of September, its sixth consecutive month of double digit
increases. The Company said that while it does not normally release all
monthly sales results, it plans to continue to release monthly same store
sales results because the trend is so significant.
“Despite losing over five individual restaurant sales days and losing over 10%
of our sales trend during the week of the historic flooding in Colorado, we
maintained our trend of double digit increases,” said Boyd Hoback, President &
CEO. He added: “Without the effects of the flooding, we estimate our same
store sales would have increased approximately 21% from last year during
September, with breakfast accounting for over 8% of that increase. We expect
to report a continuing expansion of our operating margin for the fourth
quarter as we did in the third quarter, and looking forward to fiscal 2014
based on our sales trends, improved operating margins and additional
remodeling, we expect our Cash Flow from Operations from Good Times to
increase significantly over our fiscal 2013 results.”
About Good Times Restaurants Inc.
Good Times Restaurants Inc. (GTIM) is a regional chain of quick service
restaurants located primarily in Colorado providing 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 38 restaurants.
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, family friendly atmosphere. Bad
Daddy’s has received both local and national accolades for the quality and
originality of its food and was most recently named a top 25 burger in the
U.S. by USA Today.
Good Times Forward Looking Statements
This press release contains forward looking statements within the meaning of
federal securities laws. The words “intend,” “may,” “believe,” “will,”
“should,” “anticipate,” “expect,” “seek” and similar expressions are intended
to identify forward looking statements. These statements involve known and
unknown risks, which may cause Good Times’ actual results to differ materially
from results expressed or implied by the forward looking statements. These
risks include such factors as the uncertain nature of current restaurant
development plans and the ability to implement those plans, delays in
developing and opening new restaurants because of weather, local permitting or
other reasons, increased competition, cost increases or shortages in raw food
products, and other matters discussed under the “Risk Factors” section of Good
Times’ Annual Report on Form 10-K for the fiscal year ended September 30, 2012
filed with the SEC. Although Good Times may from time to time voluntarily
update its forward looking statements, it disclaims any commitment to do so
except as required by securities laws.
Investor Relations Contacts:
Good Times Restaurants Inc.
Boyd E. Hoback, President and CEO, 303-384-1411
Christi Pennington, 303-384-1440
Booke & Co. (email@example.com)
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