Company hires new chief marketing officer
Shares in Sonic Corp. fell more than 8 percent Tuesday after the company reported a 35-percent dive in third-quarter profit amid slow sales at its 3,500-unit drive-in chain. Sonic said Monday afternoon that net income for the May 31-ended quarter totaled $11.0 million, or 18 cents a share, compared with $16.8 million, or 27 cents a share, in the year-ago period. Revenue in the latest quarter declined 19.4 percent, to $145.9 million. Systemwide same-store sales fell 6 percent in the third ...
Register to view this article
It’s free but we need to know a little about you to continually improve our content.
Registering allows you to unlock a portion of our premium online content. You can access more in-depth stories and analysis, as well as news not found on any other website or any other media outlet. You also get free eNewsletters, blogs, real-time polls, archives and more.
Attention Print Subscribers: While you have already been granted free access to the NRN Digital and Print access package, for only a small additional amount, you can get NRN All Access, which includes premium reports such as the annual NRN Top 200 data. Either way, we ask that you register now. We promise it will only take a few minutes!