Sonic's sales woes continue in 1Q

OKLAHOMA CITY Sonic Corp. said Tuesday it has fallen victim to the high levels of domestic unemployment and the deep discounting in the fast-food sector during its November-ended first quarter, forcing it to reduce expectations for the full year.

The parent company to the drive-in chain with more than 3,500 locations posted double-digit declines in both revenue and profit for its first quarter, and now expects earnings per share for its August-ending year to remain