Food Industry
Industry: Email Alert RSS FeedCPK rolls wine list, cites mood in price-hike limits
Nation's Restaurant News, Nov 4, 2002
LOS ANGELES -- California Pizza Kitchen Inc., while posting a 10.8-percent dip in third-quarter earnings because of two restaurant closures, said it would seek to build on its 5.3-percent rise in same-store sales for the period by debuting a new menu and a 20-label wine list at dinner.
CPK said the wine list is expected to boost alcoholic beverage sales from 10 percent of total volume to as much as 13 percent, yielding margins of about 60 percent.
The wine list was scheduled to be introduced by the 145-unit casual-dining chain this month along with the new menu, whose price hikes will be limited to about 1.1 percent in light of "somewhat shaky consumer confidence 1evels," chief executive Fred Hipp said inn conference call last month.
Most RecentFood Articles
The earnings decline to $3 million for the quarter reflected an after-tax writedown of $1.6 million for mall-unit closures in Concord, Calif., and Plano, Texas. CPK, whose chain includes 113 corporate-owned branches, also opened six units in the quarter, during which revenue rose 23 percent to $78.9 million.
Brought to you by CBS MoneyWatch.com
- 10 Best Places to Retire
- Companies with the Best 401(k) Plans
- Most Important Document for Your Heirs? It's Not Your Will
- Video: Should You Expect to Retire Rich?
- Over 50? Here's How to Get (and Keep) a Great Job
Most Recent Business Articles
- Your feedback
- Why fly solo when an executive assistant can accelerate your CLNC® business?
- The CLNC® mentors held the key to my first case and to my CLNC® success
- Atlanta CLNC® 6-day certification seminar photo galleryplus sign up today for spring 2009 to save $100.00
- Announcing the 2009 NACLNC® conference keynote speaker, Stedman Graham: move like a maverick for breakaway CLNC® success at the 2009 NACLNC® conference
Most Recent Business Publications
Most Popular Business Articles
- Big Fish Games Migrates Upstream to Fisher Plaza; High Growth Online Gaming Firm Vaults Fisher Plaza Occupancy Rate Above 90%
- Using object-oriented analysis and design over traditional structured analysis and design
- Top of the line: some of the world's most well-respected doctors practice in South Florida. A guide to choosing the best physician specialists - Top Doctors in South Florida
- Sand filter basics: high-rate sand filters can be confusing for those new to the business. Understanding valve modes is the key
- BEHR Paints Introduces a Colorful New Way to Paint and Prime All in One with BEHR Premium Plus Ultra™ Interior

