P.F. Chang's Cuts 2007 Guidance

The company now expects a profit of $1.19 per share, from previous guidance of $1.34 per share, reflecting expectations of lower revenue growth due to same-store sales declines. Analysts polled by Thomson Financial predict a profit of $1.25 per share.

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.

Same-store sales are expected to decline 2.1 percent at Bistro, from previous guidance of a 1.6 percent decline, and be flat at Pei Wei, from previous guidance of an 0.8 percent rise.