Value Investing News

Over the past month, we surveyed California Pizza Kitchen (CPKI) locations to gauge trends in the casual dining business.  We asked the following questions:

1. How is business compared to last month?
2. What is the most popular item on the menu? 
3. Is this location busier at lunch or dinner?
4. What is the average check size for a party of two? 

• 57% of respondents said that business had increased in the past month.  23% said business was the “same” and 20% reported that business was down over the past month.
• 47% of respondents said that the Pesto Chicken was the most popular menu item. 33% cited the BBQ Chicken.
• 57% of respondents stated that dinner was the busiest time of day. 43% cited lunch.
• The average check size for a party of two was reported to be $32.37 with a range of responses from $10 to $60.

Conclusion of Channel Check:  Tracking other recent restaurant chains we have surveyed California Pizza Chicken appears to be busier in the past month.  The average check at $32 is comparable to the average bill at California Pizza Kitchen we have seen in previous surveys. The Pesto Chicken looks very strong as does a CPKI original menu item – the BBQ Chicken.

For access to the underlying survey or for more information, please contact Jason Katz at 415.867.0959 or jason@thechannelcheckers.com