News

Good Times restaurant hits $2M annual sales milestone

April 3, 2014

Good Times Restaurants Inc. reported that same-store sales for its second fiscal quarter ended March 31, increased 17.8 percent, representing a two year increase of 24.7 percent.

Also, same-store sales were up 19.2 percent for March, on top of last year's 3.9 percent increase, according to a news release. March marked the sixth consecutive month of two-year same-store increases of plus-20 percent. The company also said it is planning an expansion in Colorado.

"We continue to deliver exceptional sales results, which is translating into significant operating margin expansion and increasing cash flows from operations which provides the impetus for us to build new Good Times restaurants in Colorado again in addition to an aggressive remodeling and reimaging schedule for our older restaurants. Our focus for Good Times is to continue to build out the front-range market of Colorado while we also build new Bad Daddy's restaurants in Colorado and beyond," CEO Boyd Hoback said in the release.

$2 million milestone

The company also reported that its first Good Times restaurant to exceed $2 million in annual sales happened in March.

"We are very excited to have a 950-square-foot restaurant generating $2 million in annual sales and it continues to grow along with the rest of our system. We also expect the new Good Times restaurants under development to significantly exceed our system-wide sales average based on the dynamics of the trade areas, our new building design and the performance of our newer restaurants," Hoback said.