Good Times Restaurants Inc. (Nasdaq SmallCap: GTIM) today announced its seventeenth consecutive month of same store sales increases through the end of December (+1.6% vs +14% last year) and that its first fiscal 2012 quarter same store sales increased 3.4% over the prior year’s increase of 13.4%.
Commenting on the sales improvement, President & CEO, Boyd Hoback said, “We are improving our sales to pre-recession levels fueled by product innovation, a focus on our high quality ingredient story and consistent execution in the restaurants. We have three additional menu initiatives in test with a planned rollout of all three through early summer that we believe will continue to positively impact our sales trends, leveraging high flavor products that are unique to the quick service restaurant category.”
The Company also reported that it is finalizing a new loyalty program that will be integrated with a social media marketing platform and is beginning the exterior reimaging and upgrading of several of its existing stores. Hoback added, “While the commodity environment continues to be a pressure point on operating margins, we are working to maximize the flow through of our sales increases to operating cash flow. We are in the process of either reimaging older stores with a new graphics design or monetizing asset values that exceed any future cash flow value in trade areas that are no longer our core target. We expect that all of these initiatives will continue to have a very positive effect on our profitability and cash flow as we continue to seek other strategic alternatives for growth and to build shareholder value.”
Good Times 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 squeezed lemonades and other unique offerings. Good Times currently operates and franchises 44 restaurants.