OKLAHOMA CITY Sonic Corp., owner or franchisor of 3,400 drive-ins, said its fourth quarter profit fell 8 percent from a year ago because of slow sales and higher labor and food costs. Net income for the quarter, which ended Aug. 31, fell to $20.2 million, or 33 cents per share, from $22 million, or 34 cents per share, the year before, Sonic said.Revenue rose 1 percent to $226.9 million from $224.3 million in the year-ago fourth quarter. Sales at units in which the company owns a ...
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 NRN we ask that you register now. We promise it will only take a few minutes!