California Pizza Kitchen, Inc. (MM) (CPKI)

KeyBanc Upgrades California Pizza Kitchen (CPKI) to Buy
More News related to CPKI

* KeyBanc Upgrades California Pizza Kitchen (CPKI) to Buy
* California Pizza Kitchen Opens Second Location in South Korea
* California Pizza Kitchen Opens Third Location in Japan
* California Pizza Kitchen Says Thank You to Customers in a Big Way
* Buckingham Research Initiates Coverage on the Restaurant Group

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May 7, 2008 9:03 AM EDT

KeyBanc upgrades California Pizza Kitchen (Nasdaq: CPKI) from Hold to Buy and sets a $19 price target.

The firm sees upside in shares of California Pizza Kitchen over the coming months and gives several reasons for the upgrade. KeyBanc believes:

* CPK's recently introduced "bounce back" promotion represents a near-term catalyst for improving same store sales
* that CPK will likely see a positive sales impact from the distribution of tax rebate checks over the next few weeks
* given Knapp Track statistics, we believe that casual dining sales trends are beginning to stabilize
* California Pizza Kitchen will see earnings accelerate in 2H08 given easier year-over-year SSS and commodity cost comparisons and minimal unit growth
* strong growth will improve Kraft business (at least 20% growth in 2008)
* CPK has significant unit growth prospects over the long term both on a domestic and international basis.


KeyBanc notes that its $19 price target on California Pizza Kitchen implies upside of about 21% from current levels.

California Pizza Kitchen, Inc., together with its subsidiaries, engages in the ownership, operation, licensing, and franchising of a chain of casual dining restaurants in the United States and internationally. [BCS]

http://www.streetinsider.com/Upgrades/KeyBanc+Upgrades+California+Pizza+Kitchen+(CPKI)+to+Buy/3618042.html

Calpers (California Public Employees Retirement Fund) bought 100k+ more shares recently.

www.mffais.com

Chancicleer recently purchased two dozen (approx) Hooters restaurants for $2M each. Using that data as a reference point, it seems CPKI is fairly valued or slightly undervalued if one considers the other business elements such as frozen entrees. JMHO, DYODD, GLTA.

California Pizza Kitchen Says Thank You to Customers in a Big Way
Wednesday April 16, 6:45 pm ET

LOS ANGELES--(BUSINESS WIRE)--California Pizza Kitchen, Inc. (CPK) (NASDAQ: CPKI - News), home of the Original BBQ Chicken Pizza and other innovative hearth-baked pizzas, made-to-order pastas, creative salads, appetizers, soups, sandwiches and desserts, unveiled today their national Thank You Card Program. Starting today and running through May 16, CPK will give out almost 2 million thank you cards to customers dining at their full service restaurants across the nation. Each party will receive an envelope with their check which contains a guaranteed prize, ranging from 10% off a meal to $25,000.

Delivered in a sealed envelope and to be opened ONLY by a CPK manager upon the guests’ return, every company-owned CPK full-service restaurant expects to have hundreds of winners.

Prizes include:

* Dinner for parties of two to six
* Free CPK frozen pizza for a year
* $1,000
* $2,500
* $5,000
* 10% - 50% off your check on your return visit to CPK
* Trip for two, 4 nights at a 5-star hotel and first class airfare anywhere Northwest Airlines flies (valid in continental U.S., Hawaii and the Caribbean)
* $25,000!

“We have a very strong repeat and regular customer base, among the most loyal guests within the restaurant industry,” said Rick Rosenfield and Larry Flax, co-founders and co-CEOs of California Pizza Kitchen. “The Thank You Card Program is our way of saying thank you to our loyal guests, and it’s a lot of fun for our customers and staff alike.”

For complete program details and official rules, please visit our website at www.cpk.com.

About CPK

California Pizza Kitchen, Inc., founded in 1985, is a leading casual dining chain. Of the chain's 234 restaurants, 198 are company-owned and 36 operate under franchise or license agreements. There are currently 19 restaurants located internationally in China, Japan, Philippines, Malaysia, Singapore, Mexico, South Korea and Indonesia. There are 25 CPK ASAP locations, 9 of which are company-owned and 16 are franchised. Also included in the company's portfolio of concepts is LA Food Show Grill & Bar, which has one location in Manhattan Beach, California and a second location currently under construction in Beverly Hills, California. The company's full-service restaurants feature an imaginative line of hearth-baked pizzas, including the original BBQ Chicken Pizza, and a broad selection of distinctive pastas, salads, soups, appetizers and sandwiches. The company also has a licensing arrangement with Kraft Pizza Company, which manufactures and distributes a line of California Pizza Kitchen premium frozen pizzas. Children who dine at California Pizza Kitchen choose from an extensive menu, recently named "The Best Kids Menu in America" by Restaurant Hospitality Magazine. For more details, visit www.cpk.com.


Contact:

California Pizza Kitchen
Sarah Grover, 310-342-5000

Source: California Pizza Kitchen, Inc.

Monday, April 7, 2008
California Pizza signs franchising deal in Dubai
Los Angeles Business from bizjournals

California Pizza Kitchen Inc. has signed a deal with the Gourmet Gulf Co. to open at least three California Pizza Kitchen restaurants in Dubai.

The first of the restaurants is slated to open in the fall of 2008.

Gourmet Gulf Co. is a joint venture between Daud Investments and Emirates International Investments Co. It is a restaurant holding group that owns and manages concept brands such as Gourmet Burger Kitchen, Morelli's Gelato, and Yo! Sushi.

Los Angeles' California Pizza Kitchen (NASDAQ: CPKI) has 234 restaurants, of which198 are company owned and 36 operate under franchise or license agreements.

The company currenty has 19 international restaurants in China, Japan, Philippines, Malaysia, Singapore, Mexico, South Korea and Indonesia.

California Pizza Kitchen Reports Preliminary First Quarter 2008 Results; Comparable Restaurant Sales Increase 0.4%; Increases First Quarter Earnings Guidance to $0.07-$0.08 Per Diluted Share
Tuesday April 8, 4:05 pm ET

LOS ANGELES--(BUSINESS WIRE)--California Pizza Kitchen, Inc. (Nasdaq:CPKI - News) announced today that revenues increased 10.2% to $164.7 million for the first quarter ended March 30, 2008 versus $149.4 million in the first quarter of 2007. Comparable restaurant sales increased approximately 0.4% compared to 4.7% in the first quarter a year ago.

During its February 14, 2008 fourth quarter conference call, the company forecasted a comparable sales range of negative 1.0% to 0.0% and first quarter earnings in the range of $0.04-$0.06 per diluted share. Based on first quarter revenues, comparable sales and operating efficiencies, the Company now expects earnings of $0.07-$0.08 per diluted share.

During the first quarter, the Company added five full service restaurants in Anaheim, California; Boca Raton, Florida; Philadelphia, Pennsylvania; Tukwila, Washington and Marietta, Georgia. In addition, the Company's international franchise partner Grupo Calpik, S.A. de C.V added one full service restaurant in the Santa Fe area of Mexico City, Mexico.

The Company intends to release its first quarter earnings on May 8, 2008 at approximately 4:00 pm ET with a conference call to follow on the same day at approximately 4:30 pm ET. A webcast of the conference call can be accessed at www.cpk.com.

California Pizza Kitchen, Inc., founded in 1985, is a leading casual dining chain. The Company's full service restaurants feature an imaginative line of hearth-baked pizzas, including the original BBQ Chicken Pizza, and a broad selection of distinctive pastas, salads, soups, appetizers and sandwiches. The average guest check is approximately $13.90. As of April 8, 2008 the company operates, licenses or franchises 237 locations, of which 198 are company-owned and 39 operate under franchise or license agreements. The Company also has a licensing agreement with Kraft Pizza Company which manufactures and distributes a line of California Pizza Kitchen premium frozen pizzas.

California Pizza Kitchen, Inc. can be found on the internet at www.cpk.com.

This release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include projections of earnings, revenue or other financial items, statements of the plans, strategies and objectives of management for future operations, statements concerning proposed new products or developments, statements regarding future economic conditions or performance, statements of belief and statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words "may," "will," "estimate," "intend," "continue," "believe," "expect," "anticipate" and similar words.

Investors are cautioned that forward-looking statements are not guarantees of future performance and, therefore, undue reliance should not be placed on them. Our actual results may and will likely differ materially from the expectations referred to herein. Among the key factors that may have a direct bearing on our operating results, performance and financial condition are changing consumer preferences and demands, the execution of our expansion strategy, the continued availability of qualified employees and our management team, the maintenance of reasonable food and supply costs, our relationships with our distributors and numerous other matters discussed in the Company's filings with the Securities and Exchange Commission. California Pizza Kitchen undertakes no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.


Contact:

California Pizza Kitchen, Inc.
Media: Sarah Grover
Investors: Sue Collyns
310-342-5000

Source: California Pizza Kitchen, Inc.

California Pizza Kitchen Slumps on Note
Tuesday April 8, 5:48 pm ET
California Pizza Kitchen Sinks As Analyst Predicts Sales Growth Slowed During 1st Quarter

NEW YORK (AP) -- Shares of California Pizza Kitchen Inc. slid Tuesday after an analyst said she expects sales at the casual dining chain worsened as the quarter progressed.

Same-store sales, or sales in stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

In a research note, Lynne Collier of KeyBanc Capital Markets said California Pizza Kitchen, like its peers in the casual dining industry, faces continued challenges in states affected by the housing market downturn. Overall, the Los Angeles-based chain owns and franchises more than 200 restaurants worldwide.

"We believe that California Pizza Kitchen's same-store sales have remained strong in states such as Texas, Illinois and Colorado," she wrote. "However, we anticipate that the negative impact from the company's significant exposure to California and Florida (representing 45.5 percent of the store base) will skew same-store sales into negative territory."

The company in mid-February predicted its same-store sales would be flat to down 1 percent for the entire fiscal year.

Collier expects California Pizza Kitchen to post a 1 percent decline in first-quarter same-store sales with a profit of 5 cents per share and total revenue of $162.1 million. Analysts surveyed by Thomson Financial forecast, on average, earnings per share of 5 cents and revenue of $163.9 million.

The analyst maintained her "Hold" rating on the stock, adding that she expects same-store sales to turn positive in the second half of the year.

Shares of California Pizza Kitchen fell 65 cents, or 4.4 percent, to close at $14.28 Tuesday.

California Pizza Kitchen Reports Preliminary Fourth Quarter 2007 Results and Revises Fiscal 2008 Guidance
California Pizza Kitchen, Inc. (Nasdaq:CPKI) announced today that revenues increased 11.6% to $162.9 million for the fourth quarter ended December 30, 2007 versus $146.0 million in the fourth quarter of 2006. Comparable restaurant sales increased approximately 1.8% compared to 6.9% in the fourth quarter a year ago.

During its November 8, 2007 conference call, the Company forecasted a comparable restaurant sales increase of 2.0%-3.0% and fourth quarter 2007 earnings in the range of $0.22-$0.23 per diluted share. Based on fourth quarter 2007 revenues and comparable restaurant sales of 2.8%, 1.7% and 0.7% in October, November and December, respectively, management now expects earnings of $0.16-$0.18 per diluted share.

For the fourth quarter of 2007, the Company added seven full service restaurants in San Bernardino, California; Clinton Township, Michigan; Stamford, Connecticut; Mesa, Arizona; Leawood, Kansas; Brandon, Florida; and Las Vegas, Nevada. In addition, the Company’s international franchise partners Global Restaurant Concepts Inc. and Iris Co. Ltd. each added one full service restaurant in Makati City, Philippines and Seoul, South Korea, respectively.

The Company also announced that due to continuing challenges in the macroeconomic environment, it is revising estimates for fiscal 2008 to negative 1.0% to 0.0% comparable restaurant sales with corresponding earnings of $0.54-$0.60 per diluted share. During its November 8, 2007 conference call, the Company forecasted a comparable restaurant sales increase of 2.0%-3.0% and 2008 earnings in the range of $0.85-$0.92 per diluted share.

The Company intends to release its fourth quarter earnings on February 14, 2008 at approximately 4:00 pm ET with a conference call to follow on the same day at approximately 5:00 pm ET. A webcast of the conference call can be accessed at www.cpk.com.

California Pizza Kitchen, Inc., founded in 1985, is a leading casual dining chain. The Company's full service restaurants feature an imaginative line of hearth-baked pizzas, including the original BBQ Chicken Pizza, and a broad selection of distinctive pastas, salads, soups, appetizers and sandwiches. The average guest check is approximately $13.37. As of January 15, 2008 the company operates, licenses or franchises 228 restaurants, of which 193 are company-owned and 35 operate under franchise or license agreements. The Company also has a licensing agreement with Kraft Pizza Company which manufactures and distributes a line of California Pizza Kitchen premium frozen pizzas.

California Pizza Kitchen, Inc. can be found on the internet at www.cpk.com.

This release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include projections of earnings, revenue or other financial items, statements of the plans, strategies and objectives of management for future operations, statements concerning proposed new products or developments, statements regarding future economic conditions or performance, statements of belief and statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words "may," "will," "estimate," "intend," "continue," "believe," "expect," "anticipate" and similar words.

Investors are cautioned that forward-looking statements are not guarantees of future performance and, therefore, undue reliance should not be placed on them. Our actual results may and will likely differ materially from the expectations referred to herein. Among the key factors that may have a direct bearing on our operating results, performance and financial condition are changing consumer preferences and demands, the execution of our expansion strategy, the continued availability of qualified employees and our management team, the maintenance of reasonable food and supply costs, our relationships with our distributors and numerous other matters discussed in the Company's filings with the Securities and Exchange Commission. California Pizza Kitchen undertakes no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.


California Pizza Kitchen, Inc.
media, Sarah Grover
investors, Sue Collyns
310-342-5000



Source: Business Wire (January 15, 2008 - 4:06 PM EST)

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