Good Times Restaurants Inc. reports developments for two restaurant brands, Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard. The company owns, operates and licenses Bad Daddy’s Burger Bar, a full-service small-box concept built around gourmet signature burgers, chopped salads, appetizers, sandwiches, a full bar and craft beer selection. It also owns, operates and franchises Good Times Burgers & Frozen Custard, a regional quick-service drive-through concept primarily in Colorado.
Recurring news centers on fiscal-quarter and full-year results, same-store sales, restaurant-level operating profit, traffic trends, food and labor cost pressures, debt reduction, liquidity and brand-level operating actions across the full-service and quick-service restaurant segments.
Good Times Restaurants Inc. (GTIM) will host a conference call on December 15, 2020, at 5:00 p.m. ET to discuss its fourth-quarter fiscal results. Ryan Zink, CEO, will lead the call, which can be accessed by dialing (888) 339-0806 or via a live webcast on the company's website. Good Times operates 39 Bad Daddy’s Burger Bar locations and 32 Good Times Burgers & Frozen Custard restaurants, primarily in Colorado. The press release anticipates risks associated with COVID-19, including business disruptions and potential delays in restaurant development, which could affect future financial performance.
Good Times Restaurants Inc. (GTIM) reported a 10.0% increase in same store sales for its Good Times brand in Q4 and a 7.9% increase for the fiscal year ending September 29, 2020. However, Bad Daddy’s Burger Bar experienced a 12.2% decline in Q4 and a 17.7% decrease for the full year due to COVID-19 impacts. The company ended the fiscal year with about $11 million in cash and equivalents and plans to seek forgiveness for PPP loans. CEO Ryan Zink noted improvements in operational capability despite ongoing pandemic challenges.