TL;DR
Sonic Corp. reported a 7.4% decline in same store sales for the second quarter, with a 7.3% decrease at franchise drive-ins and an 8.9% decrease at company-owned restaurants. Executives believe promotions and a strong product pipeline will help the brand meet guidance for the fiscal year.
Despite declines for the second quarter, executives at Sonic Corp. believe that promotions and a strong product pipeline will help the brand meet guidance for the fiscal year. According to a recent Nation’s Restaurant News article , the brand reported a 7.3 percent decrease at franchise drive-ins and an 8.9 percent decrease at company-owned restaurants.
"Our second quarter results reflect a sluggish consumer environment, weather headwinds and share losses following exceptionally strong performance over the prior two years," said Cliff Hudson, Sonic CEO. “As we enter the key spring and summer seasons, we believe a better balance of new product news and targeted value will result in sequential improvement in same-store sales and profitability.”
A new smartphone app is on the horizon for Sonic to integrate aspects of its new point-of-sale system, and mobile order and mobile pay will be available through the app as well.
In this story
This story was originally published in 1851 Franchise on March 30, 2017. Burnaze summarizes and links to the original reporting.
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