Despite adverse weather across much of the country during Sonic Drive-In Corp.’s Feb. 28-ended second quarter, the brand grew systemwide same-store sales 1.4 percent, which officials said resulted from efficient marketing, new menu items and layered daypart promotions.
However, the Oklahoma City-based chain’s revenue dipped 1.3 percent, as the closure of 12 company-owned drive-ins and the refranchising of seven units in the past 12 months pressured the top line. The operator or franchisor of more than 3,500 locations grew its net income 35.3 percent to $4.1 million, or 7 cents per share, compared with a gain of $3.0 million, or 5 cents per share, in the second quarter of 2013.
2Q NET INCOME
Result: $4.1 million, or 7 cents per share% Increase: 35.3% (from $3.0 million, or 5 cents per share)
2Q REVENUE
Result: $109.7 million% Decrease: 1.3% (from $111.1 million)
2Q SAME-STORE SALES
% Increase systemwide: 1.4%
% Increase at franchised units: 1.5%
% Increase at company-owned units: 1.3%
Source: Company report
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