Sonic to Open Drive-In Number 3,000 in Shawnee, Oklahoma
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Sonic Corp. (SONC), the nation's largest chain of drive-in restaurants, today announced another significant landmark in the growth of its chain. On May 16, Sonic's Chairman and CEO Cliff Hudson will join franchisee J.C. (Jim) Winterringer in Shawnee, Oklahoma, the location of the first Sonic Drive-In, to celebrate the opening of the drive-in that has been ceremonially designated as the 3,000th Sonic Drive-In. Oklahoma Governor Brad Henry, a Shawnee native, also will attend the ceremony. Shawnee-based Winterringer, one of Sonic's 10 original franchisees, has 23 drive-ins in Oklahoma, Texas and Idaho. To commemorate the occasion, his organization will donate $3,000 to the Shawnee Public Library. "We are honored to be here among friends and family. We can think of no better way to show our appreciation for this town's support than to give back to the community in a direct and meaningful way," he said. Commenting on the announcement, Hudson added, "For many reasons, this is a very special event for all of us at Sonic. As an Oklahoma-based company, we are delighted that this milestone occasion will occur right here in our home state, and we are pleased that the governor will be able to join us for this celebration. As a franchise-focused organization, we also are gratified that this new drive-in signifies the ongoing dedication of our franchisees, and we're especially pleased to join Jim as he opens his organization's 23rd location. "For 52 years, we've witnessed the 'Sonic Boom,'" Hudson continued. "Our company crossed the 2,000 drive-in mark in 1999. Now, less than six years later, we've reached 3,000 drive-ins. This remarkable growth, which has taken us from coast to coast, has created so many opportunities for all those affiliated with our brand. For this, we are thankful to all our operators, and especially our franchisees." Hudson also took the occasion to reiterate the company's expectations for sales growth for the third fiscal quarter that ends on May 31, 2005. He noted that estimated system-wide comparable drive-in sales have been within the targeted range of 4% to 6% for the quarter to date. Sonic will release results for the third quarter in late June. This press release contains forward-looking statements within the meaning of the federal securities laws. There are certain important factors that could cause actual results to differ materially from those anticipated by the statements made herein. Among the factors that could cause actual results to differ from predicted or expected results are: delays in opening new stores because of weather, strikes, local permitting or other reasons; increased competition; cost increases or shortages in raw food products; risks of and publicity surrounding foodborne illness; and the possibility of unforeseen events affecting the industry generally. The company undertakes no obligation to publicly release revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required to be reported under the rules and regulations of the Securities and Exchange Commission. Sonic, America's Drive-In originally started as a hamburger and root beer stand in 1953 in Shawnee, Okla., called Top Hat Drive-In, and then changed its name to Sonic in 1959. The first drive-in to adopt the Sonic name is still serving customers in Stillwater, Okla. Sonic has almost 3,000 drive-ins coast to coast and in Mexico. More than a million customers eat at Sonic every day. |
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