Sonic Corp. reported Monday that profit rose 33.8 percent in the Nov. 30-ended first quarter, boosted by a $500,000 favorable tax ruling in the period. The Oklahoma City, Okla.-based parent company to the Sonic Drive-In brand said that when the tax-ruling benefit was excluded, net income rose 26 percent compared with the same period last year. In 2014 fiscal year guidance, the company said it expected same-store sales gains “in the low single-digit range for the ...
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!