Industry News | December 7, 2012
Good Times Sees Same-Store Sales Increases
Good Times Restaurants announced its same-store sales increased 6.8 percent for the month of November.
Same-store sales decreased .9 percent for its fourth fiscal quarter ended September 30, 2012; however road construction materially impacted two restaurants, and without those disruptions, same-stores sales would have increased 1.3 percent in the fourth quarter, the ninth consecutive quarter of same-store sales increases.
“While our sales increase from prior year trend softened up a bit due to tougher prior year comps in the fourth quarter, we are very pleased with our continued progress and are really excited about our recent results, particularly given competitive trends in the industry,” says Boyd Hoback, president and CEO.
Regarding November’s larger sales trend increase, he adds, “We completed the rollout of our new Hatch Valley Green Chile $2 Breakfast Burritos in the month of November, and sales have already hit our initial target.
“We have come to market with a highly differentiated, unique offering that is simple to execute and very labor efficient, yielding a low break-even point and significant upside in profitability, even at current sales mix levels,” he continues.
The company reported that initial sales in its new breakfast daypart are exceeding its initial target of approximately 6 percent of total sales mix, with several restaurants approaching 10 percent of sales.
“We’ve not seen any cannibalization of our core business, with all of the breakfast sales being incremental,” Hoback says. “We are reaching sales levels that have taken many quick-service chains months, if not years, to achieve, and we expect it to be very profitable for us after we get through the initial 90-day launch period.”
The breakfast menu consists of four green chile burritos available as egg and cheese only or with chorizo, sausage, or bacon. It also includes Daz Bog coffee and fresh orange juice. Daz Bog is a premium Colorado coffee available in retail stores and restaurants.
Good Times is a regional chain of quick-service restaurants located primarily in Colorado providing a menu of high-quality, all-natural hamburgers, 100 percent breast of chicken sandwiches, fresh frozen custard, fresh-squeezed lemonades, and other unique offerings. Good Times operates and franchises 41 restaurants.
Food & Beverage
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