News
California Pizza Kitchen revenues up 17 percent
August 9, 2007
LOS ANGELES — Comparable-store sales at California Pizza Kitchen restaurants increased 5.4 percent in the second quarter ended July 1, the company announced.
Average weekly sales for the company's 170 full-service restaurants increased 5 percent to $68,535 for the second quarter, compared with $65,427 for the same quarter last year.
Second-quarter revenues for the company were $158.6 million, up 17 percent compared with revenues of $136.1 million in the second quarter of 2006. Year-to-date, revenues were $307.9 million, up 16 percent compared with revenues of $265.9 million for the first six months of 2006.
Net income for the quarter was $6.3 million, up 5 percent compared with revenues of $6 million for the 2006 second quarter. Year-to-date, net income was $9.9 million, down 7 percent from net income of $10.6 million for the same period last year.
California Pizza Kitchen added two full-service restaurants in the United States in the second quarter and a franchise partner opened a full-service restaurant in Hong Kong. Another franchise partner, HMSHost, opened a CPK/ASAP location in Oakland Airport in California during the quarter.
The company intends to add six full service and one international franchise restaurant in the third quarter.
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