Sonic Corp. (SONC) Drive-In Comps Up 1.8%, System Comps Up 0.5% in FY11
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Sonic Corp. (Nasdaq: SONC), reports fiscal year 2011 same-store sales increased 1.8% for company drive-ins and 0.5% for the system. This improvement represents a significant reversal in trends from the decrease of 7.8% for the system in fiscal year 2010.
Sonic's fourth quarter same-store sales increased approximately 0.4% for company drive-ins and declined an estimated 0.5% for the system. While the slight decrease in system-wide sales for the quarter was below the company’s original outlook of positive low single digits, same-store sales have been positive since mid-August, reflecting adjustments in the company’s promotional strategy.
Sonic's fourth quarter same-store sales increased approximately 0.4% for company drive-ins and declined an estimated 0.5% for the system. While the slight decrease in system-wide sales for the quarter was below the company’s original outlook of positive low single digits, same-store sales have been positive since mid-August, reflecting adjustments in the company’s promotional strategy.
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