joining Thank us you, Christa. for today. call all the on And thank you
access earnings fourth quarter mentioned, should and have XX-K now As everyone our to filing. our release
the quarter delivered mixed continued quarter posted sales. our brand, year As Good where results of of final the again we Times last at performance positive another with quarter, strong same-store with fiscal
In benefit to were sales, of to prior addition the we to packaging able margins positive and costs. food through primarily improve the lower compared year, the
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restaurants with own restaurants we partners in equal third X now XX are Times party. Good including a and company-owned We operate which
Additionally, are we have restaurants in X franchisee-owned. the system that
order direct loyalty Rewards driven Rewards ordering behavior. provided both and the with delivery during GT our drive-thru GT order a guests our being opportunity of deals digital by provides the in at order accessible is our GT guests, placed launched and by points-based loyalty traditional other transaction and We program. app The that is offering ahead order and the platform a in native menu also a Rewards Board. earn rewards purchasing enough the to the already quarter.
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our our franchisee that capture to in space. delivers the enablement of participating restaurants company-owned the that app participating share guests is Colorado now QSR the our In We are critical our currently also addition to owned ability to incremental and program, value the in believe the our our restaurants in convenience, all in Rewards program. continued that burger technology to brand relevance and of GT
first fiscal full Further, XXXX, the we of during transition completed digital the the quarter company-owned restaurants. of menu
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purchased drive-thru was of menu Lafayette earlier installation today. we that the board the at digital completed Additionally, the restaurant just recently
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weather early deleveraging most Daddy's, with have prior sales Reduced Bad operating deteriorated results experiencing quarter. in strong operating This other been have costs we from and expenses. At the quarter. the of labor impacted the effects trend P&L has in other the areas activity muted significant
been the made. of have the further organization result, have soft the new into be Bad as to year. a quarter Sales Daddy's continued first within changes And
in that previously are the directors regional me. him Daddy's operations to directly the leader to reported for late company prior moment, And reporting Our left X the for Bad August.
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failed to has a our this also within shift side We our operations to as bar of execution mindset our solution bar team behavior to faded, The is among pivot back and ultimate the leadership pandemic lacked. brand. the business
are alignment the needed However, drive to changes that, desired. to accomplish tactical
have culinary first have been specials a in Happy systemwide drink already processes and we restaurants. We've hour mid-January. leader our history in the beverage bar place. specials complement appointed to in restaurants, concept specials This those and the be time all launched when be Colorado will available by is to the we in expect
of support business, beginning day XX:XX an hours Friday operating and and XX:XX hour through average X the bar begin Further extended to on closing November at XX. Saturday p.m. by we additionally to per p.m. Sunday Thursday
dinner improved increased extended during operating [indiscernible] begun pay dayparts. sequentially late-night same-store hours already hours in measurably the October November, gains has which X sales operating and have trend, deteriorated day sales The have has and with significant further in to each dividends the the of and as last
align the menu will appropriate a guest with new beverage new have with that preferences. our with launch cocktails cocktail and that February. core We overhauled concept more better portfolio And offerings beer in spirits
a on shakes incorporated Additionally, mocktails seasonal chef we've program. seasonal our special cocktails, new into and basis,
New improved training content accompany and and have programs. these will accompanied teaching methods all of
taking hospitality, To three-pronged address inconsistent a we're approach. the
had with and hard that for of resulting each manager Daddy's, our our critical new lower Bad standards than become with the and individual content systems and standards of and role. a the training delivery tools, replacing house. skills of resystematizing assist then are accountability their development soft validation in operators First, who lacking and and was and will by and was front the desired expectations who the other specialists appropriate multi-unit training one-person in our in X learning leaders roles Resetting of team the that supplementing that in previously
for satisfaction, management controls our to operations restaurant growth system And long-term period-by-period sales finally, better financial and excellence. teams incentivize adjusting AKA profitability along with combination a guest financial incentives, of and bonus
to structure each was Our designed address bonus prior of these. also
better to these behaviors balance to period could all but impacts. that results, have the plan of prioritize and improve negative the longer-term or reduce incentives single However, revisions year full
calls, to show cases, in the year-over-year hourly at market. sales on market investments prior of challenge. to incessant given weeks discussed in unrelenting be continued early these have recently sales. in of increasing indications declines days and the as to and, improve heavily are results stores reputation necessary delivering development each has to some a of way our and And Our management new management Atlanta in labor to These prove we've invested where additional starting
to Atlanta be We restaurant's in continue fiscal months in influenced by restaurant to first year. optimal will portfolio evaluate the X of which X each this the performance market the
Daddy's Bad year for in confident brand. results the relevance our if the of disappointing, for the quarter power of and the expectations performance, are I'm are quarter slightly for the not the first lower While similar, and
As South delivering Charlotte, volume is sales, restaurant our highest continues North restaurants. Summerville, our post in Carolina, several second other highest Carolina positive volume are growth also restaurant as sales in to year-over-year positive
our top is full to X Additionally, sales months new deliver into Madison, weekly Alabama average quartile in restaurant continuing operations.
not in effect, trough Daddy's the new has experienced store to new has decline While been manifested that honeymoon same some there typical here. peak openings Bad decline
the I for confidence the brand anywhere this is of the Daddy's past. I've team in the passion in seen my the has have brand great future passion Bad as unlike
for of exclusive X finance of months, professional of without gone in many Finance. Though contracted accounting The engagement former the has leader who consulting highly company X has past a for months. an we responsibilities the performed and our nearly a have finance President capable Vice with
to this expect permanent have with hire news in a for to weeks. leadership the respect We upcoming role
the decreased quarter's for XXXX. revenues $XX.X this I'll review approximately and year results. Total decreased X.X% the $XXX.X to million for to to fiscal now quarter and X.X% million compared approximately
$XX.X decreased the quarter was the for compared the of the XXXX $X.X prior Total restaurant a million for combination decline Cherry million fiscal sales fourth year. The $X.X to and million sales associated fourth closure to compared to the restaurants $XXX.X reduced with Daddy's for franchised the Greenville, decreased year. sales comp to year in Bad million of X.X% of quarter. for X during Creek closure of of restaurants quarter. Daddy's South during and in Carolina in the the the remodel XX weeks the the formerly earlier the third sales temporary With same-store the base restaurant at quarter the restaurant of Bad decline end the approximately the quarter
X.X% during were the than prices year. quarter approximately prior higher the Menu
XXXX. be We expect fiscal same-store mid-single-digit sales first the negative quarter for to of
-- somewhat XX.X% benefits last on year's across otherwise Daddy's versus in there's results in from decrease basis were some some basket. expect basket there of we the pressure Though with at Cost upward XXXX sales believe general commodity quarter is a QX. cost point are and for XXX Bad quarter, from our similar stability our beef,
that perspective. XX Experts already beef likely long-term predict prices XX slightly months continue will is from to level, the over which next the rise a from current elevated to historical
Daddy's to compared lower year our deleveraging on of team the new post-opening costs costs by the quarter. increase and inefficiencies points in XX.X% training rates, of restaurant labor impact presence staffing as compared to Madison, in to labor additionally levels a reflects basis Alabama. for wage reflects of XXXX, and the XXX prior extended higher management sales This Bad sales increased higher quarter percentage
basis prior costs Bad X.X%. quarter, of sales the impact the the points XX Other Occupancy quarter to result costs. points operating on increased decreased costs for Daddy's XX by to compared at certain to basis deleveraging fixed XX.X% lower of the primarily year Bad Daddy's at
quarter percent Bad a operating the XX.X% for Overall, measure, to restaurant-level was for or non-GAAP of as Daddy's or $X.X last year. $X.X million a approximately sales profit, XX.X% compared million
same for sales compared approximately million million for $X.X year quarter million company-owned and to year year. for $X.X restaurants increased compared restaurant increased the fourth the Times quarter the fiscal million prior $X.X Total to to the $XX.X fourth by Good to XXXX
early accelerated quarter, same unfavorable for increased average the prior comparisons. the have quarter. the X.X% Sales but for was the approximately price quarter on Same-store over softened The increase sales into quarter. year earlier, X.X% as mentioned weather new growth menu
and last costs for XX.X% Good Food a packaging quarter. decrease the to quarter, of for XXX points compared were year's Times basis
prices As longer-term indicates the Daddy's, beef case with current resumed on Bad was levels. the pressure from forecast
driven increased Times Good a we from primarily basis year's labor last for market due increase and wage higher X% statutory by the XX.X% Colorado in costs XX.X%, to during labor the quarter, rates, ran wage overall to in Total increase the Denver. in point XXX minimum pressure
by from points X.X%, XX primarily basis Occupancy real costs higher year an driven at quarter, Good increase Times the estate of prior were taxes.
$X.X increased Good Times profit for a Times were operating quarter, quarter to by Restaurant-level for XX.X% for XX the costs the $X.X Good million points. of Other operating decrease basis million.
year, of XX due primarily sales, packaging food XX.X% percent in the sales a restaurant-level points profit and by increased last As basis higher to versus improvement operating and to costs.
and percent in fees decline the a $X.X X.X% Combined million with to fees of professional professional incurred primarily administrative costs in legal G&A expenses during associated is in general reduction as defense. were revenues. and litigation quarter and prior or The the attributable legal year total the
continue We general of earlier support of call. costs basis administrative for with year in to sales to X% this full some approximately X.X% the at on and expect a personnel run additional to detailed
area some North months. restaurant. charges impairment the Which We been has over Carolina the million related past X trade to seen profitable, recorded $X.X of Greenville, long marginally has approximately deterioration but primarily
$X.X common of Our or $X.X to or year. in net of loss versus per share last million was net loss loss $X.XX million a the fourth quarter quarter $X.XX share the for per shareholders
million benefit quarter. Approximately recognized of for fourth $X.X during tax million income the XXXX. quarter the Adjusted $X.X was to for million quarter $X.X of was compared the EBITDA
debt. million $X.X of with cash approximately million long-term quarter and in the finished We $X.X
call With questions. will for open that, Christa, the we
