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Section 1: 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported)

April 10, 2019

 

(Exact name of registrant as specified in its charter)

 

 

Nevada 000-18590 84-1133368

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

 

141 Union Boulevard, #400, Lakewood, Colorado 80228

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (303) 384-1400

 

Not applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

   
 

 

Item 2.02Results of Operations and Financial Condition.

 

On April 10, 2019, Good Times Restaurants Inc. issued a press release announcing same store sales for its fiscal quarter ended March 26, 2019.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits. The following exhibits are filed as part of this report.

 

Exhibit Number Description
   
99.1* Press Release, dated April 10, 2019

 

*filed herewith

 

  
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

    GOOD TIMES RESTAURANTS INC.
         
         
Date:  April 10, 2019   By:  
      Boyd E. Hoback  
      President and Chief Executive Officer  

 

  
 

 

EXHIBIT INDEX

 

Exhibit Number Description
   
99.1* Press Release, dated April 10, 2019

 

 

4

 

 

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Section 2: EX-99.1 (EXHIBIT 99.1)

 

Exhibit 99.1

 

FOR IMMEDIATE RELEASE

April 10, 2019 Nasdaq Capital Markets - GTIM

 

 

GOOD TIMES RESTAURANTS REPORTS FISCAL 2019 Q2 SAME STORE SALES
Bad Daddy’s Same Store Sales Increase 1.3%

 

(DENVER, CO) Good Times Restaurants Inc. (GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that same store sales at its Bad Daddy’s concept increased 1.3% during the quarter over the prior year’s increase of 0.2%, which includes the loss of the equivalent of twelve restaurant operating days caused by restaurant closures in Colorado due to the “Bomb Cyclone” weather event on March 13th. Adjusted for those lost restaurant operating days, same store sales would have increased 1.8% during the quarter. Same store sales for its Good Times’ brand decreased 7.5% during the quarter over the prior year’s increase of 7.1% in the same quarter. Adjusted for the thirty lost restaurant operating days due to closures associated with the March 13th weather event and extended power outages at two restaurants, Good Times same store sales would have declined 5.9%.

 

Boyd Hoback, President & CEO, said “We continue to see healthy same store sales growth in our Bad Daddy’s brand, even with the loss of sales due to harsher weather that has caused store closures in both our first and second quarters. Good Times continued to be significantly impacted by the much more inclement weather in Colorado (both in temperature and precipitation) versus last year and we attribute most, if not all, of the same store sales decline this year to the unfavorable weather. Importantly, when we compare favorably on weather our same store sales bounce back, as they have subsequent to the end of the quarter with our first stretch of warmer weather. At the beginning of the quarter we opened our thirty-fifth Bad Daddy’s restaurant, our fourth in the Raleigh, North Carolina market, which is performing well above our system average unit volume.”

 

About Good Times Restaurants Inc.: Good Times Restaurants Inc. (GTIM) owns, operates, franchises and licenses 35 Bad Daddy’s Burger Bar restaurants through its wholly-owned subsidiaries. Bad Daddy’s Burger Bar is a full service, upscale, “small box” restaurant concept featuring a chef driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches with a full bar and a focus on a selection of craft microbrew beers in a high energy atmosphere that appeals to a broad consumer base. Additionally, through its wholly-owned subsidiaries, Good Times Restaurants Inc. operates and franchises a regional quick service restaurant chain consisting of 35 Good Times Burgers & Frozen Custard restaurants, located primarily in Colorado.

 

Good Times Forward Looking Statements: This press release contains forward looking statements within the meaning of federal securities laws. The words “intend,” “may,” “believe,” “will,” “should,” “anticipate,” “expect,” “seek” and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, which may cause the Company’s actual results to differ materially from results expressed or implied by the forward-looking statements. These risks include such factors as the uncertain nature of current restaurant development plans and the ability to implement those plans and integrate new restaurants, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, and other matters discussed under the “Risk Factors” section of Good Times’ Annual Report on Form 10-K for the fiscal year ended September 25, 2018 filed with the SEC. Although Good Times may from time to time voluntarily update its forward-looking statements, it disclaims any commitment to do so except as required by securities laws.

 

INVESTOR RELATIONS CONTACTS:

Boyd E. Hoback, President and CEO (303) 384-1411

Ryan Zink, CFO (303) 384-1432

Christi Pennington (303) 384-1440

 

 

 

 

 

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