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California Pizza Kitchen comps up despite bad weather
April 8, 2007
LOS ANGELES — Same-store sales at California Pizza Kitchen Inc. restaurants increased 4.7 percent in the first quarter ended April 1, the company announced.
Comps at California Pizza Kitchen had increased 6.4 percent in the 2006 first quarter. CPK officials estimated that bad weather during this year's first quarter had negatively impacted comps by 0.4 percent and resulted in approximately $300,000 in lost revenues.
Revenues for the first quarter increased 15.2 percent to $149.4 million for the first quarter, compared with revenues of $129.7 million in the first quarter of 2006.
California Pizza Kitchen added two new full-service restaurants in Austin, Texas, and San Francisco as well as two CPK/ASAP restaurants in Anaheim, Calif. and Kailua, Hawaii. The company's franchise partner, WDI Corp., also opened its second full-service restaurant in Japan.
The company plans to release its first quarter earnings on May 10 at approximately 4 p.m. EDT, with a conference call to follow.
California Pizza Kitchen operates, licenses or franchises 212 restaurants, of which 181 are company-owned and 31 operate under franchise or license agreements. The company also has a licensing agreement with Kraft Pizza Co., which manufactures and distributes a line of California Pizza Kitchen premium frozen pizzas.
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