Good Times Continues Double Digit Sales Gains
+18.2% for Fiscal Q4
GOLDEN, Colo.--(BUSINESS WIRE)-- Good Times Restaurants Inc. (NAS: 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. (firstname.lastname@example.org)
KEYWORDS: United States North America Colorado
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