Sonic Falls After Fast-Food Chain Posts Disappointing Sales

Sonic Corp., the fast-food chain known for drive-in service, suffered its worst stock decline in almost three months after posting disappointing sales.

The Oklahoma City-based company reported same-store sales growth on Monday of 4.9 percent for last quarter. Analysts had estimated 5.3 percent on average, according to data compiled by Bloomberg.

Sonic shares fell 8.4 percent to $25.31 in New York, the biggest one-day decline since June 23. The stock had been up 1.5 percent this year before the tumble.

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