Sonic (SONC) is no McDonald’s (MCD), the drive-in fast food company is actually growing its sales. The company, which has about 3,500 restaurants in 44 states, reported a solid 11.5% increase in system same-store sales for its quarter reported back in late March. Interestingly, sales increased during all parts of the day, in spite of Yum! Brands (YUM) making a push into breakfast and burger rivals likes Wendy’s (WEN) and Burger King (QSR) continuing to launch premium sandwiches. Company execs pointed out that demand was so strong that it was continuing well after Sonic’s often catchy limited-time special offers on products ended. Wall Street has been keen on Sonic’s shares, sending them about 41% higher in the past year. Shares of McDonald’s, meanwhile, have fallen by 4.7% during the past year, while Wendy’s shares have gained 36.6%. However, Sonic’s shares were hit by roughly 14.8% in March on fears growth would slow going forward. That ratchets up the pressure on Sonic to deliver a good quarter when it reports its latest earnings on June 22. TheStreet’s Brian Sozzi sits down with Sonic’s chairman, president and CEO Clifford Hudson to discuss the company’s prospects days before its next earnings report.
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