Sonic sales slump in 3Q

OKLAHOMA CITY Okla. Despite creating a $1 value menu at the start of the year that was designed to help spark sales, Sonic Corp. reported Tuesday that its third-quarter sales and income slipped from the same quarter last year.

The owner and franchisor of 3,526 drive-in units said net income in the quarter ended May 31 slipped 2.7 percent to $16.8 million, or 27 cents per share. In the same quarter last year, Sonic earned $17.2 million, or 28 cents per share.

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