US-based franchisor Good Times Restaurants has reported positive same store sales in its fiscal third quarter ended 26 June 2018.
The group operates and franchises Good Times Burgers & Frozen Custard, a regional quick-service restaurant chain, and a full-service, upscale concept Bad Daddy’s Burger Bar.
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Good Times Burgers & Frozen Custard reported a 3.8% increase in same store sales compared to 3.7% for the same period the previous year.
Good Times Restaurants president and CEO Boyd Hoback said: “We saw our sixth consecutive quarter of positive same store sales at Good Times which are in-line with our guidance.
“On a two-year stack Good Times’ increase in same store sales again exceeded 7.0%. We are lapping the introduction of our West Coast Double Cheeseburger and Combo at price points of $3 and $5, respectively, from last year that drove excellent sales gains so we are very pleased with our results this year after increasing the West Coast burger and combo prices last fall.
Bad Daddy’s Burger Bar reported a slight 0.5% increase in same store sales for Q3 2018, compared to 0.1% for the same period the previous year.
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By GlobalDataThe company has excluded the sales of Bad Daddy’s location in Charlotte, North Carolina during the weeks it was closed for remodelling.
Commenting on the sales of Bad Daddy, Hoback noted: “Our overall same store sales were impacted by an estimated 1% to 1.5% during the quarter from cannibalisation in the Charlotte market resulting from the fifth restaurant in the market that we opened at the beginning of the fiscal year, which exceeded our new store sales target by nearly 25% during the quarter.
“We opened our second Atlanta-area Bad Daddy’s in Smyrna, Georgia on 4 June which posted a company record for opening week sales and our class of 2017 and 2018 new stores continue to average above our system average.
“We are on track to open four additional restaurants during the final quarter of the year: two in North Carolina, one in Greenville, South Carolina, and our third restaurant in the greater-Atlanta area.”
