(GOLDEN, Colo.--(BUSINESS WIRE)--Good Times Restaurants Inc. (Nasdaq:GTIM), operator of Good Times Burgers & Frozen Custard, a regional quick-service restaurant chain focused on fresh, high-quality, all-natural products and a licensee of Bad Daddy’s Burger Bar, a full-service, upscale concept today announced that its same store sales increased 13.7% in July 2014 over the prior year’s increase of 18.4%, representing a two year increase of 32.1%, the tenth consecutive month of two-year same store increases over 20% and an acceleration of the recent 27-28% two year sales increases.
Boyd Hoback, President & CEO said, “The two-year increase of 32.1% in our same store sales is a testament to the multi-layered drivers to our growth in both transactions and average check per customer that include product innovation and refinement in every menu category, a creative marketing umbrella that is telling a compelling brand story, excellent execution by our operations team and reinvestment in our facilities through our remodeling and reimaging program. Last year’s growth was primarily in transaction growth and this year we are seeing a combination of growth in transactions as well as average check as a result of price increases and menu mix shift. Our sales growth is translating into a dramatic increase in our operating margins for Good Times and in our growth in profitability.”
The Company also said it rolled out a new Hatch Valley Green Chile menu the last week of July that includes authentic Green Chile Chicken, Burger and Chorizo Tortas. Hoback added, “This introduction is further support to our brand position of offering authentic regional ingredients in handcrafted menu items that are unique to Good Times. We believe we have some of the best green chile available in Colorado and our success with Green Chile Cheese Fries and our Breakfast Burritos is a natural opportunity to extend the offerings. The addition of a Chorizo sandwich to the mix takes the taste profile to a whole new level.”
About Good Times Restaurants Inc.: Good Times Restaurants Inc. (GTIM) operates Good Times Burgers & Frozen Custard, a regional chain of quick-service restaurants located primarily in Colorado, in its wholly owned subsidiary, Good Times Drive Thru Inc. Good Times provides a menu of high-quality all-natural hamburgers, 100% all-natural chicken tenderloins, fresh frozen custard, fresh-cut fries, fresh lemonades and other unique offerings. Good Times currently operates and franchises 36 restaurants.
GTIM owns and operates Bad Daddy’s Burger Bar restaurants as a licensee through its wholly owned subsidiary, BD of Colorado LLC and plans to franchise Bad Daddy’s Burger Bar restaurants through its 48% ownership of Bad Daddy’s Franchise Development LLC. 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.
Good Times Forward-Looking Statements: This press release contains forward-looking statements within the meaning of 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 results expressed or implied by the forward-looking statements. These risks include such factors as the uncertain nature of current restaurant development plans and the ability to implement those plans, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, and other matters discussed under the “Risk Factors” section of Good Times’ Annual Report on Form 10-K for the fiscal year ended September 30, 2013 filed with the SEC. Although Good Times may from time to time voluntarily update its forward-looking statements, it disclaims any commitment to do so except as required by securities laws.