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Drive-in restaurant chain also reports decline in same-store sales
Sonic Corp., the nation's largest chain of drive-in restaurants, is slowing its expansion pace during its 2010 fiscal year. The Oklahoma City-based chain, which currently has more than 3,500 units nationwide, plans to open 100 to 110 new franchises in the coming year, down from 130 during its current fiscal year.
Sonic disclosed those plans for the coming year in its earnings release for its 2009 fiscal year fourth quarter. For that period, Sonic reported its system-wide same-store sales declined an estimated 4.5 percent. “Although we have faced significant challenges this past year related to the consumer, we are confronting these hurdles and believe that our brand is well-positioned for long-term growth,” said chairman and ceo Clifford Hudson.
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