Business
Good Times Restaurants Provides Business Update and Reports Fourth 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 10.0% for its fourth fiscal quarter and 7.9% for the full fiscal year ended September 29, 2020. Year-over-year same store sales at its Bad Daddy’s concept decreased 12.2% during the quarter and 17.7% for the full fiscal year as we continue to experience the effects of the COVID-19 pandemic and associated government restrictions related to restaurant dining rooms. Bad Daddy’s same store sales improved throughout the quarter as we believe guests are becoming more comfortable with on-premises dining. Good Times same store sales increases softened during the quarter due to increased dining options as more full-service concepts re-opened dining rooms and guests’ comfort with on-premise dining progressively increased. Both brands were affected in September by one of the earliest snowfalls in Colorado history. 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 Sales1\n\n\n\n \n\n\n\nAverage\nWeekly Sales2\n\n\n\n \n\n\n\nSame\nStore Sales1\n\n\n\n \n\n\n\nAverage\nWeekly Sales2\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\nJuly (4 weeks)\n\n\n\n \n\n\n\n15.6%\n\n\n\n \n\n\n\n28,908\n\n\n\n \n\n\n\n-19.6%\n\n\n\n \n\n\n\n38,075\n\n\n\n\n\nAugust (4 weeks)\n\n\n\n \n\n\n\n10.9%\n\n\n\n \n\n\n\n28,598\n\n\n\n \n\n\n\n-10.6%\n\n\n\n \n\n\n\n41,610\n\n\n\n\n\nSeptember (5 weeks)\n\n\n\n \n\n\n\n4.8%\n\n\n\n \n\n\n\n26,074\n\n\n\n \n\n\n\n-7.5%\n\n\n\n \n\n\n\n40,504\n\n\n\n\n\nFourth Quarter 2020\n\n\n\n \n\n\n\n10.0%\n\n\n\n \n\n\n\n27,722\n\n\n\n \n\n\n\n-12.2%\n\n\n\n \n\n\n\n40,096\n\n\n\n\n\nFiscal 2020 \n\n\n\n \n\n\n\n7.9%\n\n\n\n \n\n\n\n24,680\n\n\n\n \n\n\n\n-17.7%\n\n\n\n \n\n\n\n38,921\n\n\n\n\n1Same store sales include all restaurants open at least 18 full fiscal months. Good Times full year same store sales excludes one restaurant which was temporarily closed during part of the third fiscal quarter in 2019 for remodel.\n\n2Avera...