>California Pizza Boosts Guidance

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>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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