- WHITE PAPERS
Good Times Restaurants Inc. today announced its same-store sales increased 6.8 percent for the month of November.
Same-store sales decreased 0.9 percent for its fourth fiscal quarter ended Sept. 30, 2012; however, according to the company, road construction materially impacted two restaurants and without those disruptions, same-stores sales would have increased 1.3 percent in Q4, the ninth consecutive quarter of 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," said Boyd Hoback, president and CEO.
Lifting November's sales was the rollout of the new Hatch Valley Green Chile $2 Breakfast Burritos.
"We have come to market with a highly differentiated, unique offering that is simple to execute and very labor efficient, yielding a low breakeven point and significant upside in profitability, even at current sales mix levels," Hoback added.
The company also reported that initial sales in its new breakfast daypart is 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. 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," Hoback said.
The breakfast menu consists of four green Chile burritos available as Egg and Cheese only or with Chorizo, Sausage or Bacon and also includes Daz Bog coffee and fresh orange juice. Daz Bog is a premium Colorado coffee available in retail stores and restaurants.
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