Sonic Forecasts 40-50 New Franchises In 2014

Sonic Corp. plans to open 40 to 50 franchise drive-in restaurants over the next fiscal year and will expand into new markets with additional franchising agreements, Cliff Hudson, chairman, CEO and president, told shareholders at the company's annual meeting Thursday.

"Franchise growth will become a larger part of our growth and success in the coming years than it had been during the last recession," Hudson said.

The company's stock price has risen about 97 percent over the past year, in part because of strong sales, expansion into new markets, franchise growth and stock repurchases.

Also during the meeting at the company's Bricktown headquarters, shareholders approved the installation of directors Tony D. Bartel, president of Gamestop Corp.; and Lauren R. Hobart, senior vice president and chief marketing officer of Dick's Sporting Goods Inc.

Franchise Ranking History Franchise 500�: #26 (2014), #52 (2013), #80 (2012), #22 (2010), Fastest-Growing: #13 (2010)

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