Los Angeles-based California Pizza Kitchen Inc. announced today the opening of the first company-owned and operated restaurant in Shanghai, China.
The company has also opened its first international office to assist CPK franchise partners and support the company growth in China, as part of a long-term expansion strategy to broaden the company's presence in Asia.
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Showing posts with label California Pizza. Show all posts
Showing posts with label California Pizza. Show all posts
Friday, December 3, 2010
Saturday, November 13, 2010
California Pizza Kitchen Announces Financial Results for the Third Quarter 2010
Highlights for the third quarter of 2010 relative to the third quarter of 2009 were as follows:
- Total revenues decreased 0.2% to $164.5 million
- Full service comparable restaurant sales increased 0.7%
- Non-GAAP net income of $5.7 million, or $0.23 per diluted share, excluding the effects of the non-cash impairment write-down of 10 full service restaurants, the proposed settlement of a class-action lawsuit, store closure costs and the related tax benefits (please refer to the reconciliation table).
- Net loss of $7.5 million, or negative $0.31 per diluted share, including the effects of the non-cash impairment write-down of 10 full service restaurants, the proposed settlement of a class-action lawsuit, store closure costs and the related tax benefits.
Sunday, August 8, 2010
California Pizza Kitchen Takeover Talks Falter
The New York Post reported Wednesday that buyout negotiations for California Pizza Kitchen ended without a deal, sending the company’s stock downward.
The Post cited a source who said American Securities Capital, a New York private equity fund, had failed to reach an agreement with the restaurant chain, and that it was “unlikely” talks would resume given the disagreements.
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The Post cited a source who said American Securities Capital, a New York private equity fund, had failed to reach an agreement with the restaurant chain, and that it was “unlikely” talks would resume given the disagreements.
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California Pizza Kitchen Announces Financial Results For the Second Quarter of 2010
Highlights for the second quarter of 2010 relative to the second quarter of 2009 were as follows:
•Total revenues decreased 4.6% to $163.1 million
•Comparable restaurant sales decreased 5.9%
•Net income of $4.2 million, or $0.17 per diluted share
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•Total revenues decreased 4.6% to $163.1 million
•Comparable restaurant sales decreased 5.9%
•Net income of $4.2 million, or $0.17 per diluted share
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Monday, June 21, 2010
P.F. Chang's, Burger King, Jamba Juice sell frozen food
Some of the most familiar names in the restaurant world are moving into the grocer's freezer.
P.F. Chang's, Burger King and Jamba Juice all have recently licensed their names for new products to be sold in supermarkets. They join other high-profile restaurant chains including Marie Callender's, Starbucks, T.G.I. Friday's and California Pizza Kitchen, which already have substantial presence at the grocery store.
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P.F. Chang's, Burger King and Jamba Juice all have recently licensed their names for new products to be sold in supermarkets. They join other high-profile restaurant chains including Marie Callender's, Starbucks, T.G.I. Friday's and California Pizza Kitchen, which already have substantial presence at the grocery store.
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California Pizza Kitchen cuts outlook
The company, known for its Barbecue Chicken pizza and other offbeat creations, said based on early results in the quarter it now expects second-quarter earnings in the range of 10 to 15 cents a share, down from its prior forecast of 24 to 26 cents a share. Analysts polled by Thomson Reuters I/B/E/S were expecting 26 cents.
California Pizza also said it now expects same-store full-service restaurant sales in the range of negative 6 percent to negative 7 percent. Before, it had forecast a decline of 0.5 percent to 2.5 percent.
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California Pizza also said it now expects same-store full-service restaurant sales in the range of negative 6 percent to negative 7 percent. Before, it had forecast a decline of 0.5 percent to 2.5 percent.
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Tuesday, April 13, 2010
California Pizza Considers Sale as Results Improve
April 12 (Bloomberg) -- California Pizza Kitchen Inc. said it is reviewing options including a possible sale and reported preliminary first-quarter earnings that beat its forecast.
Alternatives may include a sale, merger or changes to the company’s capital structure, the Los Angeles-based restaurant chain said today in a statement. Moelis & Co. is advising the company, which has 253 company-owned stores and franchises.
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Alternatives may include a sale, merger or changes to the company’s capital structure, the Los Angeles-based restaurant chain said today in a statement. Moelis & Co. is advising the company, which has 253 company-owned stores and franchises.
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Monday, April 12, 2010
California Pizza Kitchen Reports Preliminary First Quarter 2010 Results
LOS ANGELES--(BUSINESS WIRE)--California Pizza Kitchen, Inc. (Nasdaq: CPKI) announced today that revenues decreased 2.7% to $156.7 million for the first quarter ended April 4, 2010 versus $161.1 million in the first quarter of 2009. Comparable full service restaurant sales decreased approximately 2.7% compared to a 5.9% decrease in the first quarter a year ago. Management estimates that the Easter shift and adverse weather conditions during the quarter negatively affected comparable sales by approximately 1.3%.
During its February 18, 2010 conference call, the Company forecasted first quarter comparable full service restaurant sales in the range of negative 3.0% to negative 4.0% and earnings of $0.05 to $0.07 per diluted share. Based on preliminary results, management has raised its earnings estimate to $0.10 per diluted share for the first quarter which includes an approximate $0.03 benefit for gift card breakage.
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During its February 18, 2010 conference call, the Company forecasted first quarter comparable full service restaurant sales in the range of negative 3.0% to negative 4.0% and earnings of $0.05 to $0.07 per diluted share. Based on preliminary results, management has raised its earnings estimate to $0.10 per diluted share for the first quarter which includes an approximate $0.03 benefit for gift card breakage.
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Saturday, April 10, 2010
California Pizza Kitchen seeking buyers
NEW YORK/LOS ANGELES, April 9 (Reuters) - California Pizza Kitchen Inc (CPKI.O) is seeking buyers for the restaurant chain, a source familiar with the deal said, sending its shares up as much as 17 percent on Friday.
The chain known for gourmet hearth-baked pizzas and creative salads is valued at just over $500 million based on Friday's closing share price of $20.74.
California Pizza shares rose as much as 17.2 percent on Friday, including the after-hours rise.
Private equity groups have been smelling opportunity in the casual dining sector of late, as financing becomes more accessible and consumers show more willingness to eat out.
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The chain known for gourmet hearth-baked pizzas and creative salads is valued at just over $500 million based on Friday's closing share price of $20.74.
California Pizza shares rose as much as 17.2 percent on Friday, including the after-hours rise.
Private equity groups have been smelling opportunity in the casual dining sector of late, as financing becomes more accessible and consumers show more willingness to eat out.
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Friday, February 19, 2010
California Pizza Kitchen Announces Financial Results for the Fourth Quarter and Fiscal Year 2009
Highlights for the 14-week fourth quarter of 2009 relative to the 13-week fourth quarter of 2008 were as follows:
Total revenues increased 3.8% to $167.8 million
Full service comparable restaurant sales decreased 5.8%
Net loss of $9.9 million, or negative $0.41 per diluted share, including the effects of the non-cash impairment write-down of 13 full service restaurants and the related tax benefits.
Net income of $4.1 million, or $0.17 per diluted share, excluding the effects of the non-cash impairment write-down of 13 full service restaurants and the related tax benefits (please refer to the reconciliation table).
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Total revenues increased 3.8% to $167.8 million
Full service comparable restaurant sales decreased 5.8%
Net loss of $9.9 million, or negative $0.41 per diluted share, including the effects of the non-cash impairment write-down of 13 full service restaurants and the related tax benefits.
Net income of $4.1 million, or $0.17 per diluted share, excluding the effects of the non-cash impairment write-down of 13 full service restaurants and the related tax benefits (please refer to the reconciliation table).
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Thursday, January 14, 2010
California Pizza Kitchen Cuts 4Q EPS View, Revenue Tops Estimates
California Pizza Kitchen, Inc. (CPKI: 13.9, 0, 0%) gave preliminary fourth-quarter 2009 results slightly ahead of analyst expectations, but the company cut its forecast for earnings per share.
The pizza restaurant chain said earnings per share are now expected to be in the range of 15 and 17 cents, down from its November forecast for earnings between 16 and 18 cents a share.
Same-store sales are expected to come in within earlier projections at -5.5% to -6.5%. The company said revenues increased 3.8% during the quarter to $167.8 million. That compares to revenue of $161.7 million during the year-ago quarter.
Analysts were expecting California Pizza Kitchen to report revenue of $167 million, according to a poll by Thomson Reuters.
The company is expected to report fourth-quarter results on Feb. 18
The pizza restaurant chain said earnings per share are now expected to be in the range of 15 and 17 cents, down from its November forecast for earnings between 16 and 18 cents a share.
Same-store sales are expected to come in within earlier projections at -5.5% to -6.5%. The company said revenues increased 3.8% during the quarter to $167.8 million. That compares to revenue of $161.7 million during the year-ago quarter.
Analysts were expecting California Pizza Kitchen to report revenue of $167 million, according to a poll by Thomson Reuters.
The company is expected to report fourth-quarter results on Feb. 18
Sunday, December 6, 2009
Ditching the Courtroom for California Pizza Kitchen
In 1985, after a grueling trial ended in a hung jury, criminal-defense lawyers Larry Flax and Rick Rosenfield decided to call it quits. The long-time business partners, then in their 40s, embarked on a radically different second career: Selling California-style pizza with unusual toppings, such as smoked gouda, cilantro and barbecued chicken. The verdict? Delicious, according to customers who mobbed the first location in Beverly Hills and prompted the lawyers-turned-restaurateurs to expand throughout Southern California. Today, publicly traded California Pizza Kitchen operates more than 250 restaurants in 33 states and nine countries
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Monday, November 9, 2009
California Pizza Kitchen Announces Financial Results for the Third Quarter 2009
Highlights for the third quarter of 2009 relative to the same quarter a year ago were as follows:
Total revenues decreased 5.3% to $164.8 million
Full service comparable restaurant sales decreased 8.0%
Net income increased 16.8% to $5.8 million
Earnings per diluted share increased 20% to $0.24
Outstanding debt of $37.0 million, a $13.0 million reduction from the second quarter of 2009
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Total revenues decreased 5.3% to $164.8 million
Full service comparable restaurant sales decreased 8.0%
Net income increased 16.8% to $5.8 million
Earnings per diluted share increased 20% to $0.24
Outstanding debt of $37.0 million, a $13.0 million reduction from the second quarter of 2009
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Saturday, October 10, 2009
California Pizza continues rally
On Wednesday, the casual dining chain lifted its third-quarter profit outlook. The company now expects to report earnings of 22 cents to 24 cents per share for the quarter, up from prior guidance of 19 cents to 21 cents per share.
Analysts surveyed by Thomson Reuters forecast a profit of 23 cents per share for the quarter.
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Analysts surveyed by Thomson Reuters forecast a profit of 23 cents per share for the quarter.
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Thursday, October 8, 2009
California Pizza Kitchen, Inc. Reports Preliminary Third Quarter 2009 Results
LOS ANGELES--(BUSINESS WIRE)--Oct. 7, 2009-- California Pizza Kitchen, Inc. (Nasdaq: CPKI) announced today that revenues decreased 5.3% to $164.8 million for the third quarter ended September 27, 2009 versus $174.0 million in the third quarter ended September 28, 2008. Full service comparable restaurant sales decreased approximately 8.0% compared to a 2.4% decrease in the third quarter last year
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Friday, August 7, 2009
California Pizza Kitchen Announces Financial Results for the Second Quarter 2009
Highlights for the second quarter of 2009 relative to the same quarter a year ago were as follows:
- Total revenues decreased 3.2% to $170.9 million
- Full service comparable restaurant sales decreased 6.5%
- Net income was $6.1 million, or $0.25 per diluted share
- Outstanding debt was reduced by $17.0 million to $50.0 million from the first quarter of 2009
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http://phx.corporate-ir.net/phoenix.zhtml?c=122300&p=irol-newsArticle&ID=1318290&highlight=
- Total revenues decreased 3.2% to $170.9 million
- Full service comparable restaurant sales decreased 6.5%
- Net income was $6.1 million, or $0.25 per diluted share
- Outstanding debt was reduced by $17.0 million to $50.0 million from the first quarter of 2009
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http://phx.corporate-ir.net/phoenix.zhtml?c=122300&p=irol-newsArticle&ID=1318290&highlight=
Thursday, August 6, 2009
California Pizza Kitchen Signs Franchise Deal to Expand into India
LOS ANGELES--(BUSINESS WIRE)--California Pizza Kitchen, Inc. (CPK) (Nasdaq:CPKI) announced an agreement today with new franchise partners JSM Corporation Pvt. Ltd. (JSM) and Daud Arabian Trading to expand into India. As part of the agreement, a minimum of fifteen new California Pizza Kitchen full-service restaurants are expected to open in India over the next ten years with the first restaurant scheduled to open in the summer of 2010.
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http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090805006502&newsLang=en
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http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20090805006502&newsLang=en
Friday, July 10, 2009
California Pizza Boosts Guidance
On Wednesday, July 8, California Pizza Kitchen raised its second-quarter earnings guidance, helped by cost-control initiatives that offset declining revenue. Shares of the company climbed 4.49% and closed at $13.73 after the announcement.
California Pizza Kitchen now expects second-quarter earnings in the range of $0.24 to $0.25 per share, up from its previous forecast of $0.18 to $0.20 per share. The company’s strong average weekly sales across newly opened restaurants prompted management to boost its earnings forecast. The company’s Thank You Card Program was also successful in driving sales.
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http://finance.yahoo.com/news/California-Pizza-Boosts-zacks-3053789811.html?x=0&.v=1
California Pizza Kitchen now expects second-quarter earnings in the range of $0.24 to $0.25 per share, up from its previous forecast of $0.18 to $0.20 per share. The company’s strong average weekly sales across newly opened restaurants prompted management to boost its earnings forecast. The company’s Thank You Card Program was also successful in driving sales.
Read more:
http://finance.yahoo.com/news/California-Pizza-Boosts-zacks-3053789811.html?x=0&.v=1
Friday, May 8, 2009
California Pizza Kitchen Announces Financial Results for the First Quarter 2009
LOS ANGELES, May 07, 2009 (BUSINESS WIRE) -- California Pizza Kitchen, Inc. (Nasdaq: CPKI) today reported revenues and net income for the first quarter ended March 29, 2009.
Highlights for the first quarter of 2009 relative to the same quarter a year ago were as follows:
Total revenues decreased 2.2% to $161.1 million
Comparable restaurant sales decreased 5.9%
Net income of $2.6 million, or $0.11 per diluted share, compared to net income of $2.5 million, or $0.09 per diluted share
Highlights for the first quarter of 2009 relative to the same quarter a year ago were as follows:
Total revenues decreased 2.2% to $161.1 million
Comparable restaurant sales decreased 5.9%
Net income of $2.6 million, or $0.11 per diluted share, compared to net income of $2.5 million, or $0.09 per diluted share
