Good Times Restaurants Inc.
Good Times Restaurants Continues to grow Amid Its Expansion Strategy
Good Times Restaurants Inc. run Good Times Burgers & Frozen Custard, a local chain of rapid service restaurants situated mainly in Colorado, through its solely owned subsidiary, Good Times Drive Thru Inc. The company offers a menu of extraordinary quality 100% all natural chicken tenderloins, hamburgers, fresh frozen custard, fresh lemonades, natural cut fries and other unique offerings. The company presently operates and franchises over-all of 37 restaurants.
GTIM possesses, operates, franchises and licenses 18 Bad Daddy’s Burger Bar restaurants through its wholly-owned subsidiaries. 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 atmosphere that appeals to a broad consumer base.
The company’s sales are increase despite negative industry trends and declining traffic. Its total revenues surged nearly 40% to $18,066,000 in the latest quarter and surged 60% to $47,222,000 for the year. The company opened one new Bad Daddy’s restaurant in the latest quarter and total of five new restaurants over the last twelve months.
Boyd Hoback, President & CEO said, “We are very pleased with our continued sales growth at Bad Daddy’s and have several initiatives in place to resume our same store sales growth at Good Times. This is our first quarter in 23 quarters that we have not had positive same store sales at Good Times, reflecting the impact of the intense discounting and value pricing environment. We plan to open our sixth new Bad Daddy’s this year on September 2, 2016 and are excited about our accelerated growth plan for fiscal 2017.”