Good Times Restaurants Announces Fiscal Third Quarter Same Store Sales

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GOLDEN, Colorado–(BUSINESS WIRE)–Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers and Ice Cream, today announced that comparable store sales* for its third quarter ended June 28, 2022 increased 1.6% for its Good Times brand compared to the same quarter a year earlier and 5.3% for its Bad Daddy’s brand compared to the same quarter a year earlier. Average weekly sales during the third quarter of 2022 among restaurants open for at least 18 months were $30,411 for the Company’s Good Times restaurants and $52,745 for the Company’s Bad Daddy’s restaurants.

Ryan Zink, President and CEO, said, “It’s exciting to report positive comparable sales for both concepts, which we believe demonstrates the strength of our brands. During the quarter, we completed the installation of new digital menu boards in a third of our Good Times restaurants and expect to complete the remainder of our restaurants by early October. In addition, we are well advanced in the process of permitting and constructing new signage at Good Times and expecting installation in six to eight restaurants by the end of the fiscal year and installation in all company-owned restaurants by the end of fiscal year 2023. We also continue to refine and innovate our mobile app, providing a convenient platform for our Good Times guests. These improvements are essential to our commitment to modernize and revitalize our iconic Colorado brand. »

Zink continued, “Our managers and team members from both brands continue to address the supply and workforce challenges facing our industry. I find it inspiring that they show up every day ready to impress our guests with their commitment to great food and warm hospitality. Positive sales and an exceptional work environment are a direct result of the dedication of our leaders and teams across the company. »

*Comparable store sales include all currently open company-owned restaurants with at least 18 complete fiscal periods of operating history.

About Good Times Restaurants Inc.: Good Times Restaurants Inc. owns, operates and licenses 42 Bad Daddy’s Burger Bar restaurants through its wholly owned subsidiaries. Bad Daddy’s Burger Bar is a “small box” full-service restaurant concept featuring a chef-led menu of gourmet burgers, chopped salads, appetizers and sandwiches with a full bar and an emphasis on a selection of beers local and artisanal in a high-energy atmosphere that appeals to a broad consumer base. Additionally, Good Times Restaurants Inc. owns, operates and franchises a regional drive-thru chain of 31 Good Times Burgers & Frozen Custard restaurants located primarily in Colorado.

Disclaimer of Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the 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 the Company’s actual results to differ materially from the results expressed or implied by the forward-looking statements. These risks and uncertainties include, among others, the market price of the Company’s shares prevailing from time to time, the nature of other investment opportunities presented to the Company, the Company’s financial performance and its cash flows from operating conditions, general economic conditions, which could adversely affect the Company’s results of operations and cash flows. These risks also include factors such as the disruption of our business by the novel coronavirus (COVID-19) pandemic and the impact of the pandemic on our results of operations, financial condition and outlook, which may vary depending on the duration and extent of the pandemic. and the impact of federal, state and local government actions and customer behavior in response to the pandemic, the impact and duration of staffing constraints at our restaurants, the uncertain nature of current restaurant development plans and capacity to implement these plans and to integrate new restaurants, delays in the development and opening of new restaurants due to weather conditions, local permits or other reasons, increased competition, cost increases or shortages of raw food products, and other matters discussed in the Risk Factors section of Good Times’ Annual Report on Form 10-K for the fiscal year ended September 28, 2021 filed with the SEC, and other filings with the DRY . Good Times disclaims any obligation or duty to update or modify these forward-looking statements.

Category: Financial

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