Sonic Rises as New Ad Strategy Helps Boost Earnings Forecast
Sonic CEO: Growing 'Quite Substantially' in Next 10 Years
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Sonic Corp. advanced the most in nine months after raising its forecast for earnings growth, saying its advertising programs are boosting sales while new equipment in its restaurants is trimming costs.
Profit in the year through August 2016 will rise 16 percent to 20 percent on a per-share basis, the Oklahoma City-based company said Monday in a statement. That’s up from a previous forecast of 14 percent to 18 percent growth.