Good Times' Q1 revenue falls, net income stable
Overview
Restaurant operator's fiscal Q1 revenue fell from last year
Same-store sales declined 1.2% at Bad Daddy's, 3.1% at Good Times
Company maintained net income despite fewer operating weeks
Outlook
Good Times Restaurants aims to increase guest traffic through improved burger offerings
Company expects improved sales projections and profit measures for fiscal year
Bad Daddy’s to shift strategy to monthly food features to increase guest frequency
Result Drivers
COST CONTAINMENT - CEO Ryan M. Zink attributed maintained net income to cost containment and vendor negotiations
COOK-TO-ORDER TRANSITION - Good Times completed transition to cook-to-order burgers, improving product quality without extra labor costs
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue |
| $32.70 mln |
|
Q1 Net Income |
| $198,000 |
|
Q1 Adjusted EBITDA |
| $1.26 mln |
|
Press Release: ID:nBw7Smfcma
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