Good Times Restaurants Inc. (Nasdaq: GTIM - News) today announced that same store sales for March increased 7.9% on top of last year’s 8.6% increase and same store sales increased 7.3% the for its second fiscal quarter ended March 31. March’s increase was the twentieth consecutive month of same store sales increases for the Company.
Commenting on the sales increases, President & CEO, Boyd Hoback said, “We continue to see good results from all of our product initiatives and increased focus on store level communications. While March was unseasonably warm in Colorado and it helped boost our sales, we are particularly gratified to see continued sales growth without the benefit of any broadcast media in the second quarter. We will be back on air in late April with radio using Cheech & Chong again, introducing our new 5280 Lifestyle Menu with some really fun (and funny) ads and anticipate additional transaction and average check growth.”
The Company also reported that it has completed its first remodel of one restaurant and plans to reimage several more during fiscal 2012 and 2013 after some refinement of the design elements. Hoback added, “The initial results from a relatively inexpensive exterior reimaging have been very positive, with a potential payback of less than a year. We are working on refining and optimizing each design element to apply to most of our restaurants over the rest of this year and next year to gain further consistency and brand image across the market, particularly in older stores.”
The exterior reimaging follows a systemwide implementation of new menu boards and includes new sign faces, exterior finishes including stacked stone, a new fascia band design, new point of purchase graphics, a new paint scheme and patio enhancements.
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 43 restaurants.
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 Good Times’ 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, 2011 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.