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System same-store sales decreased 1.7%, consisting of a 1.6% decline at franchise drive-ins and a 3.2% decline at company-owned drive-ins during Sonic Corp’s (NASDAQ: SONC) first quarter of 2018. Despite beating analyst estimates, CEO Cliff Hudson noted, “As expected, our first quarter same-store sales declined modestly versus prior year reflecting continued intense competitive pressure and unfavorable weather.”
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