GTIM - Good Times Restaurants reports FQ2 same store sales growth for its two brands
2023-04-06 17:02:41 ET
- U.S. fast-food chain Good Times Restaurants ( NASDAQ: GTIM ) on Thursday reported same store sales growth for FQ2 in its two brands.
- The company said FQ2 same store sales increased 7.6% for its Good Times Burgers & Frozen Custard brand.
- FQ2 same store sales for GTIM's Bad Daddy's Burger Bar brand increased 4.6%.
- Average weekly sales during FQ2 were $27,510 and $52,432 for Good Times and Bad Daddy's brands, respectively.
- The company attributed the rise in same store sales to higher menu prices, with average menu prices during the quarter increasing 10.5% Y/Y and 3.4% Y/Y at Good Times and Bad Daddy's, respectively.
- "During the second quarter, we purchased the membership interests in five previously joint-venture Bad Daddy’s restaurants, four in North Carolina and one in South Carolina, and began the remodel of our previously franchised Bad Daddy’s restaurant in Greenville, South Carolina, which is expected to re-open April 10, 2023," GTIM CEO Ryan Zink said in a statement .
- Good Times Restaurants ( GTIM ) stock earlier closed -0.4% at $2.55.
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Good Times Restaurants reports FQ2 same store sales growth for its two brands