Same-store sales up at both brands as price hikes offset traffic declines
P.F. Chang’s China Bistro Inc. reported Wednesday a 22-percent increase in fourth-quarter profit and higher same-store sales at both of its concepts. For the quarter ended Jan. 2, P.F. Chang’s net income totaled $14.7 million, or 64 cents per share, compared with $12 million, or 52 cents per share, in the year-ago period. Revenue declined 4.7 percent to $311.2 million, compared with $326.7 million in last year’s quarter, which included one more operating week. Same-store ...
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