OKLAHOMA CITY Sonic Corp.’s profit for the first quarter ended Nov. 30 slipped 11 percent year-over-year, but earnings per share exceeded market expectations because of stock buybacks, the operator or franchisor of 3,500 drive-ins said. Systemwide same-store sales grew 2.1 percent, with a 1.9-percent bump at franchised units and a 2.9-percent increase at partner drive-ins, in which Sonic holds a majority interest, the company said. That compares with a systemwide same-store sales ...
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!