Actionable news
All posts from Actionable news
Actionable news in SONC: Sonic Corp.,

Sonic CEO Isn't Worried About McDonald's All-Day Breakfast

While Sonic (SONC - Get Report) continues to outperform many of its fast food rivals on the sales-growth front, it's seeing one large competitor starting to gain steam.

On Monday evening, the burger-and-shake chain announced better-than-expected fourth quarter earnings. Excluding one-time items, earnings came in at $0.43 per share, $0.01 higher than forecasts. Same-restaurant sales rose 4.9%, while profit margins expanded about 100 basis points.

According to Sonic, it saw solid demand by consumers during all parts of the day, fueled by interest in its limited-time shake flavors and boneless chicken wings. "Later in the day, evening in particular coming off the summer quarter where our ice cream sales tend to be strong," explained Sonic CEO Clifford Hudson in an interview with TheStreet in response to a question about what part of the day performed...