Good Times Announces Double Digit Increase in October and November Same Store Sales
December 06, 2007 // Franchising.com // (GOLDEN, CO) Good Times Restaurants Inc. (GTIM) today announced that same store sales increased 12.8% and 10.6% for October and November, respectively. The company said that this quarter will be the 16th consecutive quarter of same store sales increases, factoring out the lost sales days from the winter storms last year.
Commenting on the sales results, Boyd Hoback, President and CEO said "We are continuing to see sales momentum from the synergy of our television campaign, Bambino sales, facility improvements and execution on service and quality standards. Depending on this year's weather, we expect that trend to accelerate as we compare to the severe winter weather of last year. We have been fairly aggressive in taking price increases over the last five months, but we are still growing our customer transactions and improving our overall value proposition appears to be resonating with our customers."
Looking forward, he added "We have a good complement of television advertising with new value relevant messages and one exciting new product scheduled for the next five months, so we anticipate being able to continue our sales momentum as we gear up for new market expansion."
Good Times Burgers & Frozen Custard has 54 restaurants, mostly in Colorado serving high quality, 100% all natural Coleman beef burgers, chicken sandwiches, and fresh frozen custard.
This press release contains forward looking statements within the meaning of federal securities laws. The word "intend" 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-KSB for the fiscal year ended September 30, 2006 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.