Good Times Restaurants Inc. Announces Q2 Sales Increase
Commenting on the sales increases, President & CEO, Boyd Hoback said, "We are continuing to see some acceleration in our sales from our recent menu initiatives and operational execution and are particularly encouraged by the fact that March comps include colder and wetter weather this year and the calendar shift for Easter in March this year from April last year. We've been able to continue our momentum in the quarter without the benefit of any meaningful media advertising, which didn't begin until the last week of March."
The Company reported that it has had 11 consecutive quarters of same store sales increases, including a cumulative increase of 20% in the second quarter for the last three years. Hoback added, "We hope to be able to continue our sales growth the rest of this year as we begin our first television advertising we've had in about three years and as both breakfast and our new All Natural Hand Breaded Chicken Tenders continue to do extremely well. The sales increases, improvement in our cash flow from operations and the recent repayment of all of our debt allow us to look to add new sites for Good Times in Colorado as we continue to evaluate a second concept that can provide additional growth for the Company."
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, fresh cut fries and other unique offerings. Good Times currently operates and franchises 39 restaurants.
This press release contains forward looking statements within the meaning of federal securities laws. The words "intend," "may," "believe," "will," "should," "anticipate," "expect," "seek" and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, which may cause Good Times' actual results to differ materially from results expressed or implied by the forward looking statements. These risks include such factors as the uncertain nature of current restaurant development plans and the ability to implement those plans, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, and other matters discussed under the "Risk Factors" section of Good Times' Annual Report on Form 10-K for the fiscal year ended September 30, 2011 filed with the SEC. Although Good Times may from time to time voluntarily update its forward looking statements, it disclaims any commitment to do so except as required by securities laws.
Good Times Restaurants Inc.
Boyd E. Hoback, 303-384-1411
President and CEO
Christi Pennington, 303-384-1440
KEYWORDS: United States North America Colorado
The article Good Times Restaurants Inc. Announces Q2 Sales Increase originally appeared on Fool.com.
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