Good Times Restaurants Inc. (Nasdaq: GTIM), the company behind Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, has announced its latest financial report. In the second fiscal quarter ending March 26, 2024, the company experienced a 0.9% increase in same-store sales for its Good Times brand. However, there was a 3.2% decrease in same-store sales for its Bad Daddy’s brand compared to the same quarter of the previous year.
During this period, the average weekly sales were $27,133 for the Good Times brand and $50,880 for the Bad Daddy’s brand. Despite challenging weather conditions, particularly affecting the Colorado region, the Good Times brand managed to achieve positive same-store sales.
Ryan Zink, President and CEO, expressed satisfaction with the performance of the Good Times brand, highlighting its resilience in adverse weather conditions. He also noted a promising trend in the Bad Daddy’s brand, with same-store sales declines being nearly halved compared to the previous fiscal quarter. Zink attributed this improvement to strengthening trends throughout the quarter, especially in March.
Zink emphasized the success of their strategic initiatives, including significant capital investments to revitalize and modernize the Good Times brand. He also mentioned operational changes at Bad Daddy’s aimed at fostering a greater sense of ownership among staff, ultimately leading to enhanced hospitality and guest experience.
In conclusion, Zink expressed confidence in the company’s strategies, which have contributed to positive results in both concepts despite challenges, and he looks forward to continued progress in the future.
