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California Pizza Kitchen sees comps rise
July 9, 2008
LOS ANGELES -- Comparable-store sales at California Pizza Kitchen Inc. increased 1.4 percent for the second quarter ended June 29, 2008, compared with a 5.4 percent comparable-store sales increase for the 2007 second quarter. The company had originally projected comps to be flat for the quarter.
Preliminary revenues for the quarter were $176.6 million, up 11 percent compared with revenues of $158.6 million in the second quarter of 2007.
Based on the preliminary results, CPK has revised its second-quarter earnings forecast from 16 cents to 17 cents per share up to 25 cents to 26 cents per share. The company plans to discuss second-quarter earnings during a conference call Aug. 7, 2008.
The company opened three domestic and three international restaurants during the quarter.
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