Good Times Restaurants Reports Fourth Quarter 2021 Same Store Sales

Good Times Restaurants Inc. (GTIM) yesterday announced that year-over-year same store sales for its fourth fiscal quarter ended September 28, 2021 decreased 0.2% for its Good Times brand and increased 22.8% for its Bad Daddy’s brand. Sales during the fourth quarter of 2021 increased by 8.7% at Good Times and by 5.7% at Bad Daddy’s restaurants, as compared to the fourth quarter of 2019, among restaurants that were open for the full fourth quarter in both years. Same store sales and average weekly sales at Bad Daddy’s and Good Times for each month of the quarter are as follows:

Good Times Burgers & Frozen
Custard

Bad Daddy’s
Burger Bar

Fiscal Period

Same
Store Sales1

Average
Weekly Sales2

Same
Store Sales1

Average
Weekly Sales2

July (4 weeks)

-1.0%

29,047

32.6%

50,449

August (4 weeks)

-2.9%

28,231

20.4%

49,944

September (5 weeks)

2.8%

27,220

17.4%

47,777

Fourth Quarter 2021

-0.2%

28,093

22.8%

49,259

Fiscal 2021

10.5%

27,298

18.2%

45,575

1 Same store sales include all company-owned restaurants currently open with at least 18 full fiscal periods of operating history.

2 Average weekly sales include all company-owned restaurants.

Ryan Zink, President and CEO, said, “We are pleased with the performance of both of our brands during the fourth quarter, including having Good Times maintain the high unit volumes achieved during the early stages of the pandemic despite customers returning to full-service dining. We are pleased to share that Bad Daddy’s is exceeding 2019 sales levels at an increasing pace. Sales this September exceeded September 2019 by 7% among restaurants open for the entire fourth quarter in both years. We opened our second restaurant of the year in Montgomery, Alabama in late September with weekly volumes significantly exceeding the system average. Additionally, we opened Bad Daddy’s at the Tivoli. This non-traditional unit is located at the taphouse on the premises of Tivoli brewery, the oldest brewery in the state of Colorado. In this location, we serve customers the same chef-inspired burgers as we do in our traditional locations, with beverages and all front-of-house service provided by Tivoli Brewing Company. I am proud of our teams for their dedication and strong operations and guest service execution which are the drivers of the impressive top-line sales performance both brands have generated this year.”