Sonic Q2 comps improve

Sonic Q2 comps improve
Tags: Drive In, Food & Beverage, Operations Management
March 24, 2008

OKLAHOMA CITY — Systemwide same-store sales at Sonic Corp. increased 3.2 percent for the second quarter ended Feb. 29, 2008,, the company announced.

Revenues for the second fiscal quarter rose 8 percent to $174.6 million from $161.5 million in the year-earlier period. This increase was attributable to solid same-store sales gains, new unit growth and higher franchising income derived from the company's unique ascending royalty rate and the early conversion of older license agreements, which affected approximately 790 drive-ins beginning in April 2007, according to a news release.

Thirty-four new drive-ins were opened during the second quarter, 16 existing drive-ins were relocated or rebuilt, and 239 retrofits were completed.