How did company-operated restaurants perform in Q3 2024?
3/30/2025 03:18pm
Company-operated restaurants showed varying performance trends in Q3 2024:
1. **Good Times Restaurants Inc.**:
- **Revenue Growth**: Good Times Restaurants reported a 6.5% increase in total revenues, reaching $37.9 million for the quarter compared to the previous year's third quarter.
- **Same Store Sales**: Same store sales for Bad Daddy’s restaurants increased by 1.2%, while for Good Times restaurants, it was 5.8%.
- **Profitability**: The company reported a net income attributable to common shareholders of $1.3 million for the quarter.
2. **Texas Roadhouse, Inc.**:
- **Revenue Growth**: Texas Roadhouse reported a 14.5% increase in total revenue for the 13 weeks ended June 25, 2024, amounting to $1,341,202.
- **Same Store Sales**: Comparable restaurant sales increased by 9.3% at company restaurants and 8.3% at domestic franchise restaurants.
- **Profitability**: The company reported a net income of $120,141 for the quarter, with a diluted earnings per share of $1.79.
3. **Jack in the Box Inc.**:
- **Same Store Sales**: Jack in the Box experienced a decrease of 2.2% in same store sales for the third quarter.
- **Systemwide Sales**: Systemwide sales decreased by 1.3% for the quarter.
- **New Initiatives**: The company signed three development agreements for 28 new restaurants and made significant progress on tech and digital transformation.
4. **Denny's Corp (DENN)**:
- **Revenue**: Denny's reported revenue of $115.9 million for the quarter, slightly lower than the previous year's $116.9 million.
- **Same Store Sales**: Domestic system-wide same-restaurant sales decreased by 0.6%.
- **New Brand Expansion**: Denny's successfully expanded its third virtual brand, Banda Burrito, to over 300 restaurants.
5. **Wingstop Inc.**:
- **Revenue Growth**: Wingstop reported a 45.2% increase in system-wide sales and a 45.3% increase in total revenue for the fiscal second quarter.
- **Same Store Sales**: Domestic same store sales increased by 28.7%.
- **New Store Openings**: The company opened 73 new restaurants during the quarter.
In summary, Good Times Restaurants and Texas Roadhouse demonstrated positive performance with revenue growth and increased same store sales, while Jack in the Box faced a challenge with a decline in same store sales. Denny's showed slight revenue stability but faced a decrease in same store sales, and Wingstop experienced significant growth in system-wide sales and new store openings.