Sonic Q1 comps up 3.4%
January 3, 2007
OKLAHOMA CITY — Sonic Corp., the nation's largest chain of drive-in restaurants, announced results for its first quarter ended Nov. 30, 2006.
Sonic's system-wide same-store sales increased 3.4 percent during the first quarter versus 4.7 percent in the year-earlier period. The change reflects a 4-percent increase at franchise drive-ins and a 0.6-percent increase at partner drive-ins.
According to a news release, sales at franchise drive-ins have continued to benefit from the implementation of Sonic's PAYS program (credit card terminals at each drive-in stall), which has been in place for more than a year at partner drive-ins.
Revenue for the quarter rose 9 percent to $174.8 million from $159.8 million in the year-earlier period.
