Good Times Restaurants Inc. (Nasdaq: GTIM) reversed about 18 months of frustration Wednesday, announcing that same-store sales at its flagship quick-service restaurant chain rose 3.7 percent during the quarter that ended on June 27.
The surge came after the Lakewood-based chain, which operates 38 stores in Colorado and Wyoming, introduced lower-priced cheeseburger options in late March and then pushed out a new television advertising campaign in April.
That lower-priced offering became the restaurant’s best-selling menu item by the end of June, president and CEO Boyd Hoback said.
But the boost in same-store sales also came in the midst of a nearly year-long slump for the restaurant industry in general, and particularly for the quick-service and fast-casual sectors. Same-store sales as recently as May were down 1.1 percent across all segments of the restaurant industry, and there has not been an across-the-board growth in comparable sales since February 2016, according to industry analyst TDn2K.
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