Sonic Corp. (NASDAQ: SONC), the nation's largest chain of drive-in restaurants, today announced that estimated system-wide same-store sales for the fiscal third quarter, which ended May 31, 2012, increased 2.8%. Same-store sales reflected an estimated increase of 3.7% at company drive-ins and 2.7% at franchise drive-ins. On a two-year basis, estimated system-wide same-store sales improved by 6.7% in the third quarter.
“This one-year and two-year improvement in same-store sales reflects the effective impact our service, product quality and marketing initiatives have had on our business,” said Clifford Hudson, Chairman and Chief Executive Officer. “We are very pleased with the sales trends we saw in the third quarter, despite economic and some restaurant-level cost challenges. We remain confident in our ability to drive consistent sales and leverage other aspects of our multi-layered growth strategy in the near and long term.”
Third Quarter Release and Conference Call
Sonic expects to report its third fiscal quarter results after the market close on June 20, 2012. The company will host a conference call to review financial results on Wednesday, June 20, 2012, at 5:00 PM ET. The conference call can be accessed live over the phone by dialing (888) 397-5335 or (719) 325-2157 for international callers. A replay will be available one hour after the call and can be accessed by dialing (877) 870-5176 or (858) 384-5517 for international callers; the conference ID is 1501824. The replay will be available until Wednesday, June 27, 2012. An online replay of the conference call will be available approximately two hours after the conclusion of the live broadcast. A link to this event will be available on the investor section of the company's website, www.sonicdrivein.com.Investor Conference Participation The company will be presenting at the following conferences in the month of June. Investors and interested parties can access these presentations by visiting the company's investor relations website at http://ir.sonicdrivein.com/.
- On Tuesday, June 5, 2012, the company will present at the Piper Jaffray Consumer Conference at the Le Parker Meridien in New York, New York. The presentation will begin at 3:15 PM Eastern Time.
- On Wednesday, June 6, 2012, the company will present at the Stephens Spring Investment Conference at The New York Palace Hotel in New York, New York. The presentation will begin at 2:00 PM Eastern Time.
- On Tuesday, June 12, 2012, the company will present at the William Blair & Company Growth Stock Conference at the Four Seasons Hotel in Chicago, Illinois. The presentation will begin at 3:30 PM Eastern Time.
- On Tuesday, June 26, 2012, the company will present at the Oppenheimer Consumer Conference at the Four Seasons Hotel in Boston, Massachusetts. The presentation will begin at 3:20 PM Eastern Time.