P. F. Chang's China Bistro
P. F. Chang's China Bistro (PFCB)
52-Week High Reached Tuesday: $53.38As a moderately priced restaurant chain, P.F. Chang's competitors include Cheesecake Factory and Texas Roadhouse. Sterne Agee managing director Lynne Collier recently told TheStreet that she expects P.F. Chang's and other casual dining chains with a bulk of their stores inside or near shopping malls to do well this holiday shopping season because "restaurant dining is not as much contingent on how much customers buy but whether or not they're out." >> Black Friday: Restaurants Piggyback Retailers Other names in the sector like California Pizza Kitchen (CPKI) and Cheesecake Factory are likely enjoying a similar boost this December. As a result, Collier believes they are more likely to get the Black Friday bump as the discount hunting for holiday gifts gets underway. Restaurant gift card sales will pad the group's sales even further. Americans are expected to spend an average of $145.61 on gift cards this holiday season, according to the National Retail Federation. Just over 33% of shoppers surveyed by the trade group said they will give their friends and family members gift cards to restaurants. That could amount to $8.28 billion of expected gift card sales this holiday season. "Retailers' discounting on Black Friday should help the restaurant group," she added. "You will have more consumers out and about ... [and] many people out and about shopping is a good thing for the restaurant group."
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