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)

July 15, 2021

(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.)

651 Corporate Circle, Suite 200, Golden, CO 80401

(Address of principal executive offices including 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))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.001 par value	GTIM	Nasdaq Stock Exchange

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 2.02 Results of Operations and Financial Condition.

On July 15, 2021, Good Times Restaurants Inc. issued a press release announcing same store sales for its fiscal quarter ended June 29, 2021.

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 July 15, 2021

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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:	July 15, 2021	By:
			Ryan M. Zink
			President and Chief Executive Officer

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EXHIBIT INDEX

The following exhibits are furnished as part of this report:

Exhibit Number	Description
99.1	Press Release, dated July 15, 2021

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EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

July 15, 2021 Nasdaq Capital Markets - GTIM

GOOD TIMES RESTAURANTS REPORTS THIRD QUARTER SAME STORE SALES

(GOLDEN, CO) Good Times Restaurants Inc. (GTIM), operator of Bad Daddy’s Burger Bar and Good Times Burgers & Frozen Custard, today announced that year-over-year same store sales for its Good Times brand increased 2.9% for its third fiscal quarter ended June 29, 2021. Year-over-year same store sales at its Bad Daddy’s brand increased 61.4% during the quarter compared to its fiscal 2020 third quarter, driven by reductions in COVID-19-related restrictions and the rollover of prior-year impacts of the pandemic. Compared to 2019, sales during the third quarter of 2021 increased by 14.3% at Good Times and by 0.7% at Bad Daddy’s restaurants, among restaurants that were open for the full third quarter in both years. Same store sales and average weekly sales at Bad Daddy’s and Good Times for each month of the quarter are as follows:

	Good Times Burgers & Frozen Custard					Bad Daddy’s Burger Bar
Fiscal Period	Same Store Sales1			Average Weekly Sales2		Same Store Sales1			Average Weekly Sales2
April (4 weeks)		25.1	%		29,613		130.6	%		49,318
May (4 weeks)		-3.3	%		30,289		73.4	%		50,061
June (5 weeks)		-5.6	%		29,517		26.9	%		51,508
Third Quarter 2021		2.9	%		29,784		61.4	%		50,397
YTD 2021		14.7	%		27,300		16.4	%		44,306

¹ Same store sales include all company-owned restaurants currently open with at least 18 full fiscal periods of operating history.

² Average weekly sales include all company-owned restaurants.

Ryan Zink, President and CEO, said “We have seen an increased preference for the full-service restaurant experience as vaccines have become more widely available and customers have become more comfortable in group settings with reduced COVID-19-related restrictions. Due to hourly staffing constraints that are common in the industry today, both of our concepts are still operating at reduced hours, with most of our restaurants closing one hour earlier, compared to 2019. We continue to prioritize higher-levels of customer service and improved working hours for our employees over maximizing operating hours. We are pleased with the sales results from both brands, as sales have returned to 2019 levels at Bad Daddy’s and at Good Times are seeing only marginal year-over-year sales declines as we lap dining room restrictions from last year. Additionally, during the quarter we opened our 40^th Bad Daddy’s restaurant in the greater Atlanta market. The restaurant opened as the leading sales restaurant for us in this market and is achieving our target for new restaurant volumes.”

About Good Times Restaurants Inc.: Good Times Restaurants Inc. owns, operates, franchises and licenses 40 Bad Daddy’s Burger Bar restaurants through its wholly owned subsidiaries. Bad Daddy’s Burger Bar is a full-service “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 local and craft beers in a high-energy atmosphere that appeals to a broad consumer base. Additionally, Good Times Restaurants Inc. operates and franchises a regional quick-service drive-thru restaurant chain consisting of 32 Good Times Burgers & Frozen Custard restaurants located primarily in Colorado.

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 disruption to our business from the novel coronavirus (COVID-19) pandemic and the impact of the pandemic on our results of operations, financial condition and prospects which may vary depending on the duration and extent of the pandemic and the impact of federal, state and local governmental actions and customer behavior in response to the pandemic, the impact and duration of staffing constraints at our restaurants, 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 29, 2020 filed with the SEC, and other filings with the SEC . Good Times disclaims any obligation or duty to update or modify these forward-looking statements.

Category: Financial

Good Times Restaurants Inc CONTACTS:

Ryan M. Zink, President and Chief Executive Officer (303) 384-1411

Christi Pennington (303) 384-1440