Restaurant News Resource - Sonic Corp Restaurant Industry News

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For the first fiscal quarter ended November 30, 2011, revenues decreased 0.7% to $128.3 million from $129.1 million in the year-earlier period.

Sonic Corp. (NASDAQ: SONC) announced results for the fourth quarter and fiscal year ended August 31, 2011. For fiscal 2011, the company reported system-wide positive same-store sales of 0.5%, with an increase of 1.8% at company drive-ins and 0.4% at franchise drive-ins. This improvement compares to a decline of 7.8% for fiscal 2010.

Sonic Corp. (NASDAQ: SONC) announced that 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.

System-wide same-store sales increased 3.9% for the third quarter versus a decline of 6.0% in the third quarter of fiscal 2010

Sonic Corp. (NASDAQ: SONC) announced that certain of its subsidiaries have issued $500 million of Series 2011-1 Fixed Rate Senior Secured Notes, Class A-2 in a private securitization transaction.

Sonic Corp. (NASDAQ: SONC), the nation's largest chain of drive-in restaurants, today announced its repurchase of $62.5 million of the company's Class A-1 variable funding senior notes in a privately negotiated transaction.

System-wide same-store sales declined 6.4% during the fourth quarter, with same-store sales declining 6.4% at franchise drive-ins and 6.1% at company-owned drive-ins

In line with the company's previously announced expectations, Sonic's fourth quarter same-store sales declined an estimated 6.4% for the system and 6.1% for company-owned drive-ins.

Sonic Corp. (NASDAQ: SONC), the nation's largest chain of drive-in restaurants, today announced that Leonard Lieberman has retired from the Board of Directors after 21 years of service, effective August 27, 2010. The company also announced that Jeffrey Schutz, managing director of Centennial Ventures, a leading venture capital firm, has been named to the Board.