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Sonic shares fall after company issues sales warning

An employee delivers food at a Sonic drive-in restaurant in Normal, Illinois.
Daniel Acker | Bloomberg | Getty Images

Fast-food chain Sonic's stock shed more than 8 percent Wednesday after the company warned same-store sales could come in worse than expected.

Sonic said it expects comparable-store sales growth for the fiscal third-quarter to "be positive," but below its full-year target of 4 to 6 percent, citing "slower industry traffic and modestly unfavorable weather during the quarter."

The company is expected to report quarterly results on June 20.

Clifford Hudson, chief executive officer at Sonic Corp.
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Sonic shares are about flat over the past year, but have advanced more than 8 percent in the past six months.

Sonic in past 6 months

Source: FactSet