California Pizza Kitchen raises 2Q guidance

The gourmet pizza chain said it now expects profit between 25 cents to 26 cents per share, up from prior guidance of 16 cents to 17 cents per share.

Same-store sales, or sales at stores open at least a year, rose 1.4 percent, during the quarter. Same-store sales are a key indicator of retailer performance, since it measures growth at existing stores rather than newly opened ones. The company previously expected flat same-store sales.

Total sales rose 11.3 percent to $176.6 million from $158.6 million on a preliminary basis, the company said.

Analysts polled by Thomson Financial expect profit of 17 cents per share on revenue of $175.3 million, on average.

The company said it will provide more detail on its guidance during California Pizza Kitchen's second-quarter earnings conference call on Aug. 7.

Shares of California Pizza Kitchen rose 82 cents, or 7.3 percent, to $12 in after-hours trading after falling 68 cents, or 5.7 percent, to close at $11.18.