Improvement in Same-Store Sales at Bad Daddy's
Notable sequential improvement in same-store sales at Bad Daddy's and a 10 basis point improvement in restaurant level operating profit.
Successful New Product Launch
Fried Ice Cream limited time offer has been the most successful new product launched in several years as measured in units sold.
Controlled Food and Beverage Costs at Bad Daddy's
Managed food and beverage costs well despite limited net incremental menu price year-over-year. A 60 basis point decrease in food and beverage costs from last year's quarter.
Share Repurchase Program
Repurchased 21,968 shares during the quarter under the share repurchase program.
Reduced General and Administrative Expenses
Combined general and administrative expenses were $2.2 million or 5.9% of total revenues, a decrease of 120 basis points from the prior year quarter.