OKLAHOMA CITY First-quarter profit at Sonic Corp. was slashed nearly in half from a year ago as sales for the 3,500-unit drive-in chain fell victim to consumer pressures. Sonic said Wednesday it hoped to reverse the results partly with its new $1 value menu, which it introduced just prior to New Year’s Day. “The economic environment continues to weigh heavily on consumer discretionary spending,” said Clifford Hudson, Sonic’s chairman and chief executive. ...
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Contact: Desiree Torres Desiree.Torres@penton.com