P.F. Chang's 3rd-Quarter Profit Falls
This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-10-24
Profit for the quarter ended Sept. 30 fell to $5.3 million, or 20 cents per share from $6.6 million, or 25 cents per share in the prior-year period.
Revenue rose 17 percent to $270.9 million from $231 million last year.
Analysts polled by Thomson Financial expected a profit of 19 cents on revenue of $271.1 million.
Same-store sales fell 1.6 percent at the company's Bistro restaurants and fell 1 percent at the company's Pei Wei restaurants.
Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.
The company lowered full-year guidance due to lower-than-expected same-store sales at its restaurants.
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