Company to Release Second Fiscal Quarter 2017 Financial Results on
March 28, 2017
OKLAHOMA CITY--(BUSINESS WIRE)--
Sonic Corp. (NASDAQ:SONC), the nation's largest chain of drive-in
restaurants, today announced the completion of its previously announced
refranchising initiative. The Company also announced that it will
release results for the quarter ended February 28, 2017, after the
market close on March 28, 2017.
"We are pleased to have completed our refranchising effort ahead of
schedule," said Cliff Hudson, Sonic Corp. CEO. "We look forward to
improved capital efficiency for our business, as well as increased
growth of the brand. As a part of the divestiture, franchisees have
committed to developing new drive-ins in refranchised markets, allowing
us to continue to increase our systemwide sales and brand footprint over
the next few years. Our franchisees' financial commitment reflects their
confidence in the Sonic brand and our differentiated long-term strategy
to increase sales, profits and, in turn, shareholder value."
Second Fiscal Quarter 2017 Earnings Conference Call
The Company will host a conference call to review financial results on
Tuesday, March 28, 2017, at 5:00 p.m. ET. The conference call can be
accessed live over the phone by dialing (877) 545-1402 or (719) 325-4771
for international callers. A replay will be available one hour after the
call and can be accessed by dialing (844) 512-2921 or (412) 317-6671 for
international callers; the conference ID is 8513191. The replay will be
available until Tuesday, April 4, 2017. 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.
About Sonic
SONIC, America's Drive-In is the nation's largest drive-in restaurant
chain serving approximately 3 million customers every day. More than 90
percent of SONIC's 3,500 drive-in locations are owned and operated by
local business men and women. For 64 years, SONIC has delighted guests
with signature menu items, 1.3 million drink combinations and friendly
service by iconic Carhops. Since the 2009 launch of SONIC's Limeades for
Learning philanthropic campaign in partnership with DonorsChoose.org,
SONIC has donated $7.4 million to public school teachers nationwide to
fund essential learning materials and innovative teaching resources to
inspire creativity and learning in today's youth. To learn more about
Sonic Corp. (NASDAQ/NM:SONC), please visit http://sonicdrivein.com
and please visit or follow us on Facebook and Twitter. To learn about
SONIC's Limeades for Learning initiative, please visit Limeadesforlearning.com.
SONC-F
View source version on businesswire.com: http://www.businesswire.com/news/home/20170302006073/en/
Sonic Corp.
Corey Horsch, 405-225-4800
Vice President of
Investor Relations and Treasurer
Source: Sonic Corp.
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