Q4 2019 Good Times Restaurants Inc Earnings Call

Headline should read earnings will be released on Tuesday, May 12 (instead of May 5).

Third-party delivery services, which already were a source of great division in the restaurant industry, are becoming even more debated during the coronavirus crisis, with some full-service restaurant chains particularly saying they are a life-saver and other Denver-based chains saying the costs of using them are getting even harder to bear as revenues and profit margins shrink. Major third-party delivery services — think Grubhub (NYSE: GRUB), DoorDash, Uber Eats, etc. — tend to take commissions from restaurants ranging from 15% to 28% on each order that is placed through them. Now restaurants that used to see no more than 15% to 20% of their orders placed for delivery — or, in some cases, far less — may see half or more of revenue generated this way, as Colorado has shut down in-facility dining through at least April 30 and Denver through May 11.

Good Times Restaurants (Nasdaq: GTIM) has named acting CEO Ryan Zink as its full-time CEO moving forward, praising the leadership of the restaurant company’s former CFO since taking over day-to-day duties following the departure of its longtime CEO in October. Zink will oversee the Lakewood-based company that operates 33 fast-food Good Times Burgers & Frozen Custard locations in Colorado and Wyoming and 39 full-service Bad Daddy’s Burger Bar restaurants located across a number of states.

Good Times Restaurants Inc. (Nasdaq: GTIM) today provided an update in connection with the COVID-19 pandemic and reported financial results for the fiscal second quarter ended March 31, 2020.

Good Times Restaurants (Nasdaq: GTIM) has parted ways with CEO Boyd Hoback, who has worked with the company since he was a teenager and helped to found the concept for the Good Times Burgers & Frozen Custard chain that has grown to 34 locations. CFO Ryan Zink will serve as acting CEO as the company looks for a replacement. The Lakewood-based company, which also operates the nationally expanding Bad Daddy’s Burger Bar full-service restaurant chain, announced the departure of Boyd on Tuesday afternoon and added that he has resigned from the company’s board of directors.

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The chains are pivoting to new ways of operating that they anticipate will benefit the restaurants after the virus subsides.

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The Good Times Restaurants Inc. (Nasdaq: GTIM) Board of Directors announced today that Ryan Zink has been named Chief Executive Officer of Good Times Restaurants Inc. effective immediately. Mr. Zink has served as Acting Chief Executive Officer and Chief Financial Officer since October 2019.

The company's full-service restaurant is putting further expansion on hold while it addresses problems.

Good Times Restaurants (Nasdaq: GTIM) sputtered to the close of its 2018-19 fiscal year, losing $4.2 million for the quarter to bring its annual loss up to $5.1 million and announcing it would not plan any restaurant openings during 2020 as it seeks to stabilize its existing restaurants. Same-store sales at Bad Daddy’s fell 1.3% year over year for the fiscal fourth quarter and 0.2% for the fiscal year, while comparable sales at Good Times fell 0.4% for the year despite a 7.2% increase in the three months ending Sept. 24. Acting CEO Ryan Zink said in a news release that the fiscal year saw “significant erosions in margins,” due to higher wage costs, increased use of third-party delivery vendors by customers and lower unit volumes at restaurants that opened in 2018 and 2019.

After creating a conversational AI program for drive-through lanes, it is expanding now to voice-activated kiosks, voice-controlled mobile ordering and texting applications in stadiums.

Q1 2020 Good Times Restaurants Inc Earnings Call

Good Times Restaurants Inc. (NASDAQ:GTIM) shares fell 5.1% to US$1.48 in the week since its latest full-year results...

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Q2 2020 Good Times Restaurants Inc Earnings Call

The One Group Hospitality (Nasdaq: STKS), the Denver-based operator of STK steakhouse and Kona Grill, became the latest company to suspend earnings guidance for 2020 on Tuesday, citing “unprecedented market conditions domestically and internationally” from coronavirus. Several of its international locations — including those in Milan, Italy and Doha, Qatar are closed temporarily. Colorado on Monday ordered that in-facility dining and drinking be shut down at bars and restaurants for one month, while Denver officials issued a similar prohibition through May 11.

Good Times Restaurants Inc. (NASDAQ:GTIM) shareholders should be happy to see the share price up 16% in the last...

Good Times Restaurants Inc. (Nasdaq: GTIM), operator of Bad Daddy’s Burger Bar, a full-service, upscale concept and Good Times Burgers & Frozen Custard, a regional quick-service restaurant chain, today announced it has rescheduled the release of its financial results for the second fiscal quarter, which ended March 31, 2020.