Good Times Restaurants: Slides to 7-year low as quarterly loss widens

Good Times Restaurants

13/12/2019 17:39

** Shares of fast-casual restaurant chain  GTIM.O  down 15%
at seven-year low of $1.40 after posting wider quarterly loss on
Thursday after the bell; set for worst day in a year, if current
level holds 
    ** Co's Q4 loss widened to 33 cents per share, from 3 cents
a year earlier, hit by higher packaging and operating costs
 urn:newsml:reuters.com:*:nBw1fV2m9a
    ** FY 2019 saw significant erosion in margins, primarily due
to higher wage costs and significant opt-in by our customers to
our third-party delivery option - acting-CEO Ryan Zink
    ** Estimates FY 2020 net loss to be between $0.5 and $0.7
million, yet expects revenue and adjusted EBITDA to be above FY
2019 figures
    ** More than 130,000 shares traded, six times their 25-day
moving average volume
    ** Including session's loss, GTIM down nearly 44% this year;
stock has been declining for five consecutive years and set for
worst year in 11 

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@ThomsonReuters.com))