Good Times Restaurants reports Q4 EPS 2c vs. (2c) last year

Reports Q4 revenue $35.8M vs. $34.3M last year. Same Store Sales for Good Times restaurants (GTIM) decreased 0.1% for the fourth quarter compared to the prior-year fourth quarter and increased 2.9% for the year compared to the 2023 fiscal yea. Ryan M. Zink, CEO, said, “I am inspired by the turnaround in same store sales this year at Bad Daddy’s, a strong indication that our back-to-basics approach to brand execution is effectively attracting and retaining guests at our restaurants. Bad Daddy’s performance significantly beat the Black Box casual dining index for both sales and traffic during the quarter. During this quarter, Good Times experienced softer sales, in part due to the return of extreme discounting in the quick service space, with many promotions from our much larger competitors centered around the five dollar price point. We continue to be focused on delivering value through high quality products and the uncompromising standards for our key suppliers of our all natural beef and chicken. History has shown that exaggerated discounting is a race to the bottom and an unprofitable strategy in the long-term, so we are choosing a different path. We are approaching the new year with a continuation of our strategy at Bad Daddy’s, and a similar back-to-basics approach to re-training our teams and reaching for even higher standards of operations excellence at Good Times. Our confidence in the Good Times brand is evidenced through the continuation of our brand evolution through our remodels, including updated signage with our refreshed logo, fresh technology for our employees and guests, and community art through our exterior murals.”