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Good Times Restaurants Inc. (symbol: GTIM) is a prominent player in the restaurant industry, known for its diverse and high-quality offerings. The company owns, operates, and franchises two distinct restaurant brands: Good Times Burgers & Frozen Custard and Bad Daddy's Burger Bar.
Good Times Burgers & Frozen Custard operates primarily in Colorado and Wyoming. This quick service restaurant chain is celebrated for its fresh, high-quality hamburgers made with Meyer all-natural, all-Angus beef, and Springer Mountain Farms all-natural hand-breaded chicken. The menu also boasts signature wild fries, beer-battered onion rings, and a variety of frozen custard flavors, including hand-spun shakes and spoonbenders.
Bad Daddy's Burger Bar began its journey in North Carolina and has since expanded to South Carolina, Tennessee, and Colorado. This brand is a chef-driven burger joint that prides itself on using a mix of local and artisanal ingredients to create extraordinary burgers.
Good Times Restaurants Inc. operates through two segments: the quick-service drive-through dining industry under the Good Times Burgers & Frozen Custard brand, and the full-service upscale casual dining industry under the Bad Daddy's Burger Bar brand. The company generates its maximum revenue from the Bad Daddy's Burger Bar segment.
The menu categories across both brands include burgers, chicken, kids' meals, breakfast options, frozen custard, sides, and drinks.
Recent achievements of Good Times Restaurants Inc. include expanding its geographical footprint, enhancing menu offerings, and forging new partnerships to ensure sustainable growth and customer satisfaction. The company continues to innovate and adapt to industry trends, maintaining a strong financial condition and a positive outlook for future expansion.
- High-Quality Ingredients: Commitment to using all-natural beef and chicken.
- Geographical Expansion: Growth into new states and regions.
- Innovative Menu: Unique and proprietary food items that attract a broad customer base.
- Segment Leadership: Leading revenue generation through Bad Daddy's Burger Bar.
Stay updated with the latest news and developments from Good Times Restaurants Inc. to understand their performance and strategic moves in the restaurant industry.
Good Times Restaurants Inc. (GTIM) announced the appointment of Matthew Karnes as Senior Vice President of Finance. Karnes, with 18 years of experience, previously served as Chief Operating and Financial Officer at Denver Economic Development. His role at GTIM aims to strengthen financial operations and strategic decision-making. As part of his inducement compensation, Karnes will receive stock options for 50,000 shares, with specific vesting conditions. GTIM operates 42 Bad Daddy’s Burger Bar locations and 32 Good Times Burgers & Frozen Custard outlets primarily in Colorado.
Good Times Restaurants reported a 20.5% increase in total revenues, reaching $32.9 million for the quarter ending December 28, 2021.
Bad Daddy’s restaurant sales accounted for $24.6 million, with a same-store sales increase of 24.0%. In contrast, Good Times saw a 5.9% decrease in same-store sales, totaling $8.1 million.
The net income attributable to common shareholders was $0.3 million, while adjusted EBITDA was $1.5 million.
The company ended the quarter with $7.6 million in cash and no long-term debt.
Good Times Restaurants Inc. (GTIM) announced a share repurchase program, starting February 7, 2022, to buy back up to $5 million of its common stock. This initiative aims to return capital to shareholders while allowing the company to reinvest in its brands, primarily Bad Daddy's Burger Bar. CEO Ryan Zink expressed confidence in the company's growth opportunities. The timing and number of shares repurchased will depend on various factors, including market conditions. The program may be suspended or discontinued at the company's discretion.
Good Times Restaurants Inc. (GTIM) has appointed Donald L. Stack as the new Senior Vice President of Operations, effective February 7, 2022, succeeding Scott Lefever. Stack has 45 years of experience in the restaurant industry, having led operations for multiple restaurant chains and was previously a Regional Manager at Firebirds International. His leadership is expected to enhance operations and brand growth at Good Times Burgers & Frozen Custard, which operates 42 Bad Daddy’s Burger Bar locations and 32 Good Times locations in Colorado.
Good Times Restaurants Inc. (Nasdaq: GTIM) will host a conference call on February 3, 2022, at 5:00 p.m. ET, to discuss its Q1 financial results. CEO Ryan Zink will lead the call, which can be accessed by calling (844) 200-6205 with access code 721552. The call will also be webcast on their corporate website, with an archive available after the event. Good Times operates 42 Bad Daddy’s Burger Bar restaurants and 32 Good Times Burgers & Frozen Custard locations, focusing on a diverse menu and craft beers.
Good Times Restaurants Inc. (GTIM) reported mixed financial performance for Q1 2022. Same-store sales for Good Times decreased by 2.5%, while Bad Daddy's Burger Bar saw a significant 24.0% growth. Overall sales increased 19.5% at Good Times and 8.9% at Bad Daddy's compared to Q1 2020 prior to the pandemic. Notably, average weekly sales for Good Times were $25,916, while Bad Daddy’s reported $48,174. Increased input costs and staffing challenges were acknowledged by President Ryan Zink. The outlook remains cautiously optimistic amid ongoing challenges.
Good Times Restaurants Inc. (Nasdaq: GTIM) announced the retirement of Scott LeFever, Vice President of Operations, effective March 31, 2022. The company has a successor lined up to join in early 2022. LeFever expressed pride in his 43-year tenure and the relationships built during that time. Good Times operates 42 Bad Daddy’s Burger Bar restaurants and 32 Good Times Burgers & Frozen Custard locations, predominantly in Colorado. The company recognizes the ongoing challenges posed by the COVID-19 pandemic, staffing constraints, and competition, which could affect future operations.
Good Times Restaurants reported a 12.8% revenue increase, totaling $124.0 million for the fiscal year ending September 28, 2021. Restaurant sales for the fourth quarter rose 17.6% to $33.5 million. Bad Daddy's sales surged 16.1% year-over-year, while Good Times saw a 0.2% decline in same-store sales for Q4 but a 10.5% annual increase. Net income reached $1.3 million for Q4 and $16.8 million for the year. The company faces challenges from inflation and supply chain issues but remains optimistic without fiscal guidance for 2022.
Good Times Restaurants Inc. (Nasdaq: GTIM) will host a conference call on December 16, 2021, at 5:00 p.m. ET, to discuss its fourth quarter and fiscal year-end financial results. The call will be led by Ryan Zink, President and CEO. A press release detailing financial results will precede the call. Investors can access the call by dialing (844) 200-6205 with access code 827058, or via a live webcast on the corporate website.
Good Times operates 42 Bad Daddy’s Burger Bar restaurants and 32 Good Times Burgers & Frozen Custard locations, predominantly in Colorado.
Good Times Restaurants (GTIM) reported its Q4 2021 results, noting a 0.2% decrease in same store sales for its Good Times brand, while Bad Daddy's brand saw a remarkable 22.8% increase. Compared to Q4 2019, Good Times' sales increased by 8.7% and Bad Daddy's by 5.7%. September sales exceeded those from September 2019 by 7%. The company opened two new locations, one being a non-traditional unit at Tivoli Brewery, enhancing its market presence and operational performance.
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