Business
Good Times Restaurants Provides Business Update and Reports First Quarter Same Store Sales
DENVER--(BUSINESS WIRE)-- Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today
About this update from Good Times Restaurants Inc.
[{"type":"text","content":" DENVER--(BUSINESS WIRE)--\nGood Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that year-over-year same store sales for its Good Times brand increased 22.1% for its first fiscal quarter ended December 29, 2020. Year-over-year same store sales at its Bad Daddy’s brand decreased 11.8% during the quarter compared to its fiscal 2020 first quarter, driven by the impact of the COVID-19 pandemic and associated government restrictions related to restaurant dining rooms, including the closure of dining rooms in its twelve Colorado Bad Daddy’s for part of November and all of December. Same store sales and average weekly sales at Bad Daddy’s and Good Times for each month of the quarter are as follows:\n\n\n\n \n\n\n\n \n\n\n\nGood Times Burgers &\nFrozen Custard\n\n\n\n \n\n\n\nBad Daddy’s\nBurger Bar\n\n\n\n\n\nFiscal Period\n\n\n\n \n\n\n\nSame\nStore\nSales1\n\n\n\n \n\n\n\nAverage\nWeekly\nSales2\n\n\n\n \n\n\n\nSame\nStore\nSales1\n\n\n\n \n\n\n\nAverage\nWeekly\nSales2\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nOctober (4 weeks)\n\n\n\n \n\n\n\n15.0\n\n\n\n%\n\n\n\n \n\n\n\n25,750\n\n\n\n \n\n\n\n-2.7\n\n\n\n%\n\n\n\n \n\n\n\n41,782\n\n\n\n\n\nNovember (4 weeks)\n\n\n\n \n\n\n\n22.4\n\n\n\n%\n\n\n\n \n\n\n\n27,185\n\n\n\n \n\n\n\n-8.2\n\n\n\n%\n\n\n\n \n\n\n\n39,903\n\n\n\n\n\nDecember (5 weeks3)\n\n\n\n \n\n\n\n28.3\n\n\n\n%\n\n\n\n \n\n\n\n26,536\n\n\n\n \n\n\n\n-21.5\n\n\n\n%\n\n\n\n \n\n\n\n35,680\n\n\n\n\n\nFirst Quarter 2021\n\n\n\n \n\n\n\n22.1\n\n\n\n%\n\n\n\n \n\n\n\n26,446\n\n\n\n \n\n\n\n-11.8\n\n\n\n%\n\n\n\n \n\n\n\n38,856\n\n\n\n\n1Same store sales include all company-owned restaurants currently open with at least 18 full fiscal periods of operating history.\n2Average weekly sales include all company-owned restaurants.\n3The December fiscal period for both fiscal 2020 and 2021 included both Thanksgiving Day and Christmas Day, during which all of the Company’s restaurants were closed in observance of the respective holidays.\n\nDuring November and December, in compliance with government orders, the Company had dining rooms closed in its Colorado Bad Daddy’s restaurants, limiting service to patio dining, carry-out, and delivery. Same store sales for Colorado restaurants declined 36.6% i...