WRAPUP 1-Wendy's/Arby's misses view, CPK beats
* Wendy's/Arby's Q1 adj EPS 1 cent; Wall St view $0.02
* Calif Pizza Kitchen Q1 EPS $0.11; Wall St view $0.10
* Wendy's shares fall 9.2 pct; CPK unchanged (Adds executive comment on Arby's sales trend, updates shares)
LOS ANGELES, May 7 (Reuters) - Fast-food chain Wendy's/Arby's Group Inc (WEN.N) posted a quarterly profit excluding items on Thursday that missed Wall Street's view, while California Pizza Kitchen Inc (CPKI.O) reported better-than-expected profits on cost controls.
News from the companies came as restaurants continue to struggle with a recession that has put millions of people out of work and forced people to cut back on meals away from home.
First-quarter sales at established North American restaurants rose 1 percent at Wendy's and fell 8.7 percent at Arby's.
Sales at established company-owned California Pizza Kitchen restaurants fell 5.9 percent.
As same-store sales tumble virtually across the industry, restaurants are slashing costs on everything from payroll to new restaurant openings and Wendy's/Arby's and California Pizza Kitchen were no exception.
The shares Wendy's/Arby's, the third-largest fast-food chain, fell 9.2 percent after it reported a quarterly net loss of $10.9 million, or 2 cents per share, including after-tax charges of about $15 million related to integration and other items.
Excluding items, earnings were 1 cent per share, compared with analysts' average estimates of 2 cents, according to Reuters Estimates.
Wendy's/Arby's, leaving no stone unturned, is tearing out unneeded fax lines and asking morning crews to fire up store lights and kitchen appliances in phases to save energy.
Arby's sales have fallen more than some rivals, partly because its average check is higher than at other fast-food chains. It is running promotions instead of discounting its premium-priced roast beef sandwiches in an environment of intense price competition.
California Pizza Kitchen, known for its unconventional menu that includes Thai Chicken and Barbecue Chicken pizzas, reported first-quarter net income of $2.6 million, or 11 cents per share. Analysts, on average, were expecting a profit of 10 cents per share, according to Reuters Estimates.
Among other things, it said lower cheese prices helped it cook up profits.
Wendy's/Arby's, which reported before the market open, closed down 46 cents at $4.52.
California Pizza Kitchen, reported after the market closed. Its shares closed down 3.4 percent at $14.81 on the Nasdaq and were unchanged in extended trading. (Reporting by Lisa Baertlein in Los Angeles and Lewis Krauskopf in New York; Editing by Andre Grenon)
