News

Sonic’s Q2 numbers up

March 7, 2011

Sonic Corp.’s sales for both company-owned drive-ins and the system were positive for the second fiscal quarter ended Feb. 28.

Sonic estimates that system-wide same-store sales increased 1.0 percent to 1.5 percent for the quarter – continuing the improving sales trend experienced in Q1 2011. Also, company-owned drive-ins continued to out-perform the system in the second fiscal quarter, with same-store sales increasing 2.2 percent.

"We are pleased by the ongoing sales improvements we are experiencing and are encouraged that estimated same-store sales for our system, as well as those for our franchisees, have moved into positive territory," said Clifford Hudson, chairman and CEO. "Sonic's strengthening same-store sales reflect increasing traction with the operational and food quality initiatives we implemented in fiscal years 2009 and 2010.”

These improvements, he added, also show the contributions of new management added in the past year, especially in company-owned drive-in operations, where same-store sales performance has exceeded that of our system for three consecutive quarters.

Second quarter release and conference call

Sonic plans to report its second quarter results at the market close on March 22. The company will provide an online web simulcast of its earnings release conference call that afternoon beginning at 5 p.m. ET.

An archived replay of the conference call will be available approximately two hours after the conclusion of the live broadcast and will continue through April 22. A link to these events will be available at the investor section of the company's website.

Sonic presenting at BoA Merrill Lynch conference

Sonic Corp. will participate in the Bank of America Merrill Lynch 2011 Consumer Conference, which takes place in New York City, March 9-10, 2011.

The investor presentation by Sonic's management is scheduled at 1:30 p.m. ET on March 10 and will be available to investors via a live audio webcast. A link to the webcast can be found at the investor section of the company's website and the event will be available for replay through March 21, 2011, using that same link.