Sonic's Sales and Profit Sink

OKLAHOMA CITY (TheStreet) -- Sonic(SONC Quote) is apparently seeing customers drive right past --- rather than through -- its fast-food window.

The company posted a 16% decline in its fourth-quarter earnings, as shoppers seemingly continued to dine-in rather than grab take-out in an effort to continue the pursuit of our great, new austerity.

During the quarter, the company earned $16.9 million, or 28 cents a share, beating analysts' expectations by a penny. This compares with $20.2 million, or 33 cents, in the year-ago period.

Revenue sank 23% to $178.8 million from $226.9 million last year, while total same-store sales slipped 4.5%.

Earlier today, Brinker(EAT Quote), which operates chains like Chili's Grill & Bar and Over the Border, saw its profit tumble 34% as sales and traffic continued to fall.

McDonald's(MCD Quote), The Cheesecake Factory (CAKE Quote) and Chipotle Mexican Grill(CMG Quote) will each report earnings on Thursday.

-- Reported by Jeanine Poggi in New York.

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