P.F. Chang’s China Bistro, Inc. (NASDAQ: PFCB) today reported consolidated revenues of $267.4 million for the second quarter ended July 1, 2007, compared to $226.0 million for the second quarter of 2006. Sales at the company owned P.F. Chang’s China Bistro restaurants accounted for $208.1 million of consolidated revenues, sales at the company’s Pei Wei Asian Diner restaurants accounted for $58.6 million of consolidated revenues and sales at the company’s Taneko Japanese Tavern restaurant accounted for $0.6 million of consolidated revenues.
For the 13 weeks ended July 1, 2007, comparable store sales decreased 1.3% at the Bistro (taking into account a 2% to 3% effective price increase) and increased 1.0% at Pei Wei (taking into account a 1% to 2% effective price increase) as compared to the 13 weeks ended July 2, 2006. Comparable store sales at the Bistro decreased 0.7%, 2.3% and 1.1% for April, May and June, respectively, and increased 1.9%, 0.4% and 0.6% for April, May and June, respectively, at Pei Wei.
During the second quarter of 2007, the company opened 4 new Bistro restaurants and 10 new Pei Wei restaurants.
The company intends to release its second quarter earnings results on July 25, 2007, at approximately 7:00 am ET. A conference call will be held later that same day at 1:00 pm ET. A webcast of the conference call can be accessed at www.pfcb.com.
P.F. Chang’s China Bistro, Inc. owns and operates three restaurant concepts in the Asian niche. P.F. Chang’s China Bistro features a blend of high-quality, traditional Chinese cuisine and American hospitality in a sophisticated, contemporary bistro setting. Pei Wei Asian Diner offers a modest menu of freshly prepared Asian cuisine in a relaxed, warm environment offering attentive counter service and take-out flexibility. Taneko Japanese Tavern features natural, organic and seasonal ingredients highlighting the diverse cooking styles of Japan.