USA: California Pizza Kitchen revises guidance for the third quarter
California Pizza Kitchen Inc., (Nasdaq:CPKI) announced today that due to the tragic events of September 11, 2001 and the resulting softness in the economy, earnings per share for the third quarter ended September 30, 2001 will likely be in the range of $0.18 to $0.19 per share. For the third quarter, same store restaurant sales prior to September 11th were approximately 3.5%. Due to the events on that day, over 50% of the company's restaurants either did not open for business or closed early. Since September 11th, the company has seen a decline in same store sales, although there has been a recent gradual return toward normal levels.
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