Sonic Sustains Growth

OKLAHOMA CITY-Drive-in chain Sonic Corp. will open 180 to 200 new stores this year, adding to its current portfolio of just more than 3,200 units. The company is adding stores in both new and existing markets, and about 150 to 160 restaurants will be operated by franchisees.

During the Sonic’s first quarter, which ended Nov. 30, the chain opened 37 units. The company signed 26 new development agreements during the period, which are anticipated to lead to 152 drive-ins. Sonic currently has development agreements for 674 new units for the next several years.

While the company is expanding, it is also renovating its existing stores. The improvements, which include exterior models such as more lighting and an upgraded patio area, have been executed at 130 units. The rest of the chain is scheduled for an overhaul by the next three to four years.