Good Times Restaurants Inc., operator of Good Times Burgers & Frozen Custard, a regional quick-service restaurant chain focused on fresh, high-quality, all-natural products, and of Bad Daddy’s Burger Bar, a full-service, upscale concept, announced that its Bad Daddy’s same store sales increased 2 percent in its fiscal first quarter ended December 27, 2016 over the prior year’s increase of 6.5 percent and its Good Times’ same store sales decreased 0.5 percent during the quarter over the prior year’s increase of 4.8 percent.
Boyd Hoback, president and CEO, says, “We saw a sequential improvement at Good Times from our fourth quarter of fiscal 2016, and given that we were comparing to high same store sales increases at both brands during the prior year, we are happy with our results during the first quarter. We plan on small price increases during our second quarter to offset the increased Colorado minimum wage, and we are on track with the implementation of new prep tables at Good Times for the introduction of our new hotter, cheesier burger lineup and mid-tier priced burgers in all stores by late March. The competitive environment remains heavily weighted toward value pricing, and our response is to up the ante on quality, price choice and innovation at both brands, with a number of products in development and test.”
The company also reiterated that it expects to open nine to 11 Bad Daddy’s Burger Bar restaurants and one new Good Times in fiscal 2017. The new Good Times is under construction in Greeley, Colorado; and one of the Bad Daddy’s opened in Broomfield, Colorado on December 14, 2016 with another opening expected in Fayetteville, North Carolina on January 16. Three other stores currently under development in North Carolina and Colorado will open by late spring with additional stores slated for this summer. Hoback adds, “We are finalizing leases in Oklahoma and Georgia, and we anticipate both the Midwest and Southeast markets will be a focus for our growth in fiscal 2018.”
GTIM owns, operates, franchises and licenses 20 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.
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