CPK ups 2Q earnings guidance

LOS ANGELES California Pizza Kitchen Inc. upped its second-quarter earnings forecast as continued cost-cutting strategies overcame its falling revenue and same-store sales.

The company's stock price rose 4.5 percent Thursday after the announcement late Wednesday to close at $14.35.

For the quarter ended June 28, CPK reported a 3.2-percent decline in revenue to $170.9 million. Same-store sales fell 6.5 percent at full-service California Pizza Kitchen

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