Good Times Restaurants Inc. (NASDAQ:GTIM) announced its same store sales increased 11.6% for the month of December and 3.8% for its first fiscal quarter. Sales for the new breakfast daypart featuring authentic Hatch Valley Green Chile Breakfast Burritos were approximately 5.9% for the quarter, which was rolled out system-wide throughout the quarter.
Commenting on the sales trends, President & CEO, Boyd Hoback said “We have had a cumulative increase in same store sales in excess of 20% over the last three years in our first quarter and we are excited about additional initiatives planned for this year to continue our momentum. This year we benefitted from the addition of the new breakfast daypart and we’ve achieved the cumulative sales increases largely without any significant broadcast media advertising, which we plan to revive in the third and fourth quarters to promote new, unique product offerings centered around fresh, all natural, authentic ingredients.”
The company reported that several of its restaurants are exceeding 9% in total breakfast sales during their first three months’ of introduction, aided by trade area giveaways and the Company’s first direct mail campaign in several years. Hoback added “We are gaining traction faster than we had anticipated for sales of our Hatch Valley Green Chile Breakfast Burritos due to the authenticity and uniqueness of the product that is not available anywhere else, other than at smaller Mexican restaurants. We anticipate that the breakfast sales will add incremental profit during the remainder of our fiscal year as we fine tune the labor requirements and decrease our promotional activities.”
The Breakfast Menu consists of four Hatch Valley Green Chile Breakfast Burritos available as Egg & Cheese 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.
About Good Times Restaurants Inc. – GTIM
Good Times (GTIM) is a regional chain of quick service restaurants located primarily in Colorado providing a menu of high quality all natural hamburgers, 100% breast of chicken sandwiches, fresh frozen custard, fresh cut fries, fresh squeezed lemonades and other unique offerings.
Good Times Restaurants Inc. (GTIM) is a holding company for its wholly owned subsidiary, Good Times Drive Thru Inc. (GTDT), which is engaged in the business of developing, owning, operating and franchising hamburger-oriented drive-through restaurants under the name Good Times Burgers & Frozen Custard. Most of its restaurants are located in the front-range communities of Colorado but it also has franchised restaurants in Idaho, North Dakota and Wyoming.
As of September 30, 2010, GTIM operates and franchises a total of 49 Good Times restaurants, of which 45 are in Colorado, with 40 in the Denver greater metropolitan area, three in Colorado Springs, one in Grand Junction and one in Silverthorne.
More Posts by this author
- Morgan Stanley to Slash 1,600 Jobs (MS)
- Gold Prices Slip, All Eyes on ECB and BOJ
- Market Update After Hours January 9
- Stocks End Higher as Alcoa Earnings Lift Sentiment
- Gold Prices Settle Lower; Silver Prices also Slip
- Stocks Marginally Higher in Late Trading
- Debt Ceiling Issue: Governors Warn Congressional Leader over Policy Logjam
 |
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
|