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News Breaks | | | | February 21, 2013 | | 16:22 EDT |  | CEC | CEC Entertainment lowers FY13 EPS view to $2.70-$2.85 from prior $2.80-$3.00
FY13 consensus $2.88. The company said, "Our previous guidance for fiscal year 2013 was a 2% to 3% increase in comparable store sales, resulting in diluted earnings per share in the range of $2.80 to $3.00. Through week seven of 2013, comparable store sales have decreased 3.2%, which we believe can be attributed to the delay in the federal income tax refunds compared to the prior year, the elimination of the 2% payroll tax holiday and increases in gasoline prices. Given the uncertainty surrounding any potential longer term impacts to comparable store sales from the payroll tax holiday and gasoline prices, we estimate if comparable store sales are up 1% to 2% for fiscal year 2013 we would expect diluted earnings per share to be in a range of $2.70 to $2.85." | |
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