Shares of California Pizza Kitchen Inc. fell nearly 11 percent Monday after the casual restaurant chain cut its second-quarter profit forecast, citing weaker-than-expected sales.

The Los Angeles company, which is exploring strategic options that may include selling itself, now expects per-share net income of 10 cents to 15 cents, down from its prior forecast of 24 cents to 26 cents.

Analysts surveyed by Thomson Reuters on average were expecting 26 cents.

Co-chief executives Rick Rosenfield and Larry Flax said the quarter’s results are being hurt by comparison with a successful “Thank You Card” promotion a year earlier. The company plans to reintroduce the program in the third quarter.

In addition, consumers continue to be frugal, dining out less often and spending less when they do. California Pizza’s same-store restaurant sales in April and May fell, respectively, 2.7 percent and 7.9 percent.

The company now expects same-store, full-service restaurant sales to fall 6 percent to 7 percent in the quarter ending June 30. It earlier said it expected a 0.5 percent to 2.5 percent decline.

The company in April hired investment bank Moelis & Co to consider changes in capital structure, a possible sale or other business combination. It said Monday that the process was continuing.

Shares closed down $2.06, or 10.9 percent, to $16.83 on the Nasdaq.