CPK Q1 2010 earnings helped by 'small cravings' menu

 
May 6, 2010
California Pizza Kitchen has released its first quarter earnings results for 2010, showing a slight slip from the comparable period in 2009.
 
Still, the company's leaders believe the numbers represent an upward trajectory from recent quarters.
 
"We were pleased that first quarter sales performance exceeded our expectations, while earnings were at the high-end of our previously guided range," Rick Rosenfield and Larry Flax, co-CEOs of California Pizza Kitchen, said in a company statement. "Restaurant operations improved across dine-in, take-out and delivery channels for the quarter, and we credit our call center, expansion of our wine selections and our catering programs, along with the February rollout of our new and successful Small Cravings menu."
 
Full service comparable restaurant sales decreased 2.7 percent for Q1 ended April 4, 2010.
 
Revenues for Q1 2010 were $156.7 million, down from $161.1 million in Q1 2090, a decrease of almost 3 percent.
 
Net income came to $2.5 million, down from $2.59 million in Q1 2009, a decrease of 3 percent.

Topics: Business Strategy and Profitability , California Pizza Kitchen , Operations Management


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