Good Times Restaurants Inc. (NASDAQ: GTIMD) today announced its fifth consecutive month of same store sales increases with December sales increasing 14.2% from the prior year and that its same store sales for the first quarter of fiscal 2011 increased 13.4%.
Commenting on the sales improvement, President & CEO Boyd Hoback said, “While we had the benefit of nicer weather this year compared to last year during our first quarter, we are seeing growth in transactions and our average guest check from the cumulative impact over the past several months of the introduction a new lower priced Craver Combo category, two fry alternatives with Fresh Cut Fries and our heritage Wild Fry, Fresh Hand Spun Custard Shakes in limited time holiday flavors and our limited time offer of Sweet Potato Waffle Cut Fries. We have additional innovative product introductions planned throughout the balance of the fiscal year along with new twists and improvements to our core product lineup.” Regarding other initiatives, Hoback added, “Commodity costs will remain a challenge this year with pressure on our cost of sales, however our focus is on rebuilding compounding sales growth as the macroeconomic environment improves. We plan to implement additional product innovations and operational initiatives for our customers that will challenge quick service norms, invigorated with new creative execution by a new marketing team. We look forward to improved profitability and pursuing other strategic alternatives for our shareholders with the recent capital infusion from Small Island Investments Ltd.”
Good Times is a regional chain of quick service restaurants located primarily in Colorado providing a menu of high-quality all-natural hamburgers, 100% breast of chicken sandwiches, fresh frozen custard, fresh squeezed lemonades and other unique offerings. Good Times currently operates and franchises 49 restaurants.