i watch 20 hrs of tv a day and see many SONC commercials. March madness is over in April. i think its May. I'm not sure bcuz I watch so much tv, one day runs into another
Sonic Same-Store Sales Grow 6.5% for the Quarter Ending February 29
Two Year Winter Quarter Cumulative Sales Growth Totals 18%
Business Wire Sonic Corp.
March 29, 2016 4:05 PM
OKLAHOMA CITY--(BUSINESS WIRE)--
Sonic Corp. (SONC), the nation’s largest chain of drive-in restaurants, today announced results for its second fiscal quarter ended February 29, 2016.
Key highlights of the company’s second quarter of fiscal year 2016 included:
Net income per diluted share increased 57% to $0.22 compared with $0.14 in the same period prior year; adjusted net income per diluted share increased 38% to $0.18 compared with adjusted net income per diluted share of $0.13 in the prior-year period;
System same-store sales increased 6.5%, consisting of a 6.5% same-store sales increase at franchise drive-ins and an increase of 6.3% at company drive-ins;
Company drive-in margins improved by 60 basis points;
Five new franchise drive-ins opened; and
The company purchased 0.9 million outstanding shares.
"Our business continues to perform at an exceptional level, generating 6.5% same-store sales growth for the system while lapping our strongest same-store sales comparison in ten years,” said Cliff Hudson, Sonic Corp. CEO. “Continued strength in core menu items, combined with highly effective limited-time-offer and value-based promotions, allowed us to increase market share in a highly competitive environment. The combination of sales leverage and a favorable commodity cost environment helped to generate another quarter of solid margin improvement at the drive-in level.
“As we look to sustain our recent momentum, we continue to invest aggressively in our people and technology initiatives, which we believe will further differentiate the experience we provide to our consumers," continued Hudson. "And we are pleased to have repurchased 2.7 million shares in the first half of 2016, representing 5.2% of shares outstanding.
What has happened to Sonic 's usual TV commercials during March Madness? No money in the budget left for commercials? It seems like they have disappeared on TV......
The "Street" has SONC coming in at .18 for the Quarter that should be reported on or about March 21, 2016! All post's welcome! The "Good Dr's In"!