Lots of Franchisee Related News in Sonic (SONC) Q1 2011 Earnings Call

Franchisee related issues took significant focus in yesterday's Sonic (SONC) earnings call. The company set the goal to grow the company AUV ($900K) up to that of the franchisees ($1M AUV). 23 units closed, including a major franchisee retrenchment in Florida. Franchisee stress was noted as well as a pullback in store development and the indication that franchisee new unit development wouldnt be a driver again until 2013 or when sales and profits become more stable.

See: www.seekingalpha.com/article/244841-sonic-corporation-ceo-discusses-q1-2011-results-earnings-call-transcript?source=qp_transcript