Country Style Cooking (CCSC) Sees Negative Comps Growth in Q2

Country Style Cooking (NYSE: CCSC) announced preliminary second quarter 2014 results.

For the second quarter ended June 30, 2014, the Company opened a net total of 14 restaurants, bringing the total net restaurant count to 317, compared to a total restaurant count of 268 as of June 30, 2013. The new openings include 10 restaurants under the brand name "Mr. Rice."

The Company currently anticipates to report net revenue within its previous guidance range of RMB 340-360 million ($54.7-$57.9 million), compared to RMB 325.8 million ($53.1 million) in the second quarter of 2013, representing year-over-year growth of at least 4.3%. The Company expects positive net income despite the pressure from higher operating costs and negative same store sales growth in the second quarter of 2014 attributable to rainy, cooler weather in the Southwest region of China in June which reduced restaurant customer traffic.

Country Style Cooking plans to report its second quarter 2014 results in mid August.

You May Also Be Interested In

• Biogen (BIIB) tops earnings expectations but revenue falls short
• Encompass Health Corporation (EHC) Tops Q1 EPS by 19c, Offers Guidance
• Lam Research (LRCX) Tops Q3 EPS by 50c, Beats on Revenue; Offers Q4 Revenue Guidance