Jack in the Box, CPK Won’t Meet Forecasts

Southern California-based restaurant chains Jack in the Box Inc. and California Pizza Kitchen Inc. said earnings will be lower than expected as diners stayed away from restaurants after the attacks on the World Trade Center and the Pentagon.

The chain operators also cited economic uncertainty, already weighing on some U.S. restaurants before the attacks, as a factor pressuring earnings.

Shares of San Diego-based Jack in the Box fell $5, or 18%, to close at $23 on the New York Stock Exchange. The shares have eroded more than 22% since trading resumed after the attacks. Shares of Los Angeles-based California Pizza Kitchen fell 39 cents to close at $15.45 on Nasdaq.

Jack in the Box said it expects to report earnings of 18 cents to 19 cents for the quarter. Analysts had on average expected a profit of 20 cents.

California Pizza Kitchen, which operates or franchises 125 restaurants, said sales at restaurants open at least a year were up about 3.5% in the third quarter before Sept. 11, but have declined.