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The Second Quarter Earnings of California Pizza Kitchen On Decline
The new forecast of the company gives a call for the sales and indicates that it would fall to a rate of 6 percent to 7 percent in the quarter. The previous forecast indicated a decline of 0.5% to 2.5 percent. The restaurant sales in the month of April and May fell down to a rate of 2.7 percent and 7.9 percent.
The Chief Executive of California Pizza Co, Rick Rosenfield and Larry Flax claimed in a statement that the same store restaurant sales in May and June had a weaker forecast because of the absence of promotion of from the company’s popular Thank You Card. The Thank You Card Promotion boosted up the sales of the company in the previous quarter. This promotion gave a lot of discounts and prizes to the customers.
In the upcoming quarter plans are being made to bring back this program in order to attract more customers. This is because the Thank You Card creates a positive impact on the sales of the company.
On Monday, the analyst of the company Destin Tompkins cut the target of the second quarter profit for the California Pizza Kitchen to 13 cents a share.
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By mmanish on Companies Analysis | Tuesday June 22, 2010 06:21 pm
California Pizza Kitchen claimed on Monday that it now expects its second quarter earnings to be at a rate of 10 cents or 15 cents a share. Previously a forecast was made at an amount of 24 cents to 26 cents and so now it can be seen that the expectations has come down.The new forecast of the company gives a call for the sales and indicates that it would fall to a rate of 6 percent to 7 percent in the quarter. The previous forecast indicated a decline of 0.5% to 2.5 percent. The restaurant sales in the month of April and May fell down to a rate of 2.7 percent and 7.9 percent.
The Chief Executive of California Pizza Co, Rick Rosenfield and Larry Flax claimed in a statement that the same store restaurant sales in May and June had a weaker forecast because of the absence of promotion of from the company’s popular Thank You Card. The Thank You Card Promotion boosted up the sales of the company in the previous quarter. This promotion gave a lot of discounts and prizes to the customers.
In the upcoming quarter plans are being made to bring back this program in order to attract more customers. This is because the Thank You Card creates a positive impact on the sales of the company.
On Monday, the analyst of the company Destin Tompkins cut the target of the second quarter profit for the California Pizza Kitchen to 13 cents a share.
ABOUT : http://theotcmarket.com/
TheOTCmarket.com offers Stock Newsletter on various hot stocks of the day.
We publish daily news in the form of our Market Snapshot and also provide daily Hot Stocks for its visitors. Additional attractions for investors and financial institutions are offered in the form of stock alerts, newsletters and other forms of subscribed information.
You can become leader in stock market by keeping track of the daily activity.
Disclaimer:
THEOTCM electronically disseminates information (the “Information”) on its websites, in newsletters, featured reports, spam compliant double-opt in email communications or otherwise pertaining to Featured Stocks’ (the “Issuer” or “Issuers” or “Featured Stock” or “Featured Stocks”), the securities of which are most frequently common stock shares quoted on the Over the Counter Bulletin Board (“OTCBB”) or Pink Sheets. The Information is based on publicly available information, such as quarterly (with unaudited financial statements) and annual reports (with audited financial statements) filed with the Securities and Exchange Commission (“SEC”), quarterly and annual unaudited financial reports and Information and Disclosure Statements filed with the Pink Sheets, the Issuer’s website and information obtained through search engines such as Yahoo Finance, Market Watch, PRnewswire, StockHouse, StockWatch, OTCmarket and Business Wire. We synthesize the Information from these informational sources for our Readers as a starting point for further inquiry into the Issuer and its securities.
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