P.F. Chang's Clears Wall Street's Revenue Target - TheStreet

P.F. Chang's Clears Wall Street's Revenue Target

The company's second-quarter top line comes in ahead of Wall Street's estimates.
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P.F. Chang's China Bistro

(PFCB)

reported a 34% jump in second-quarter revenue, allowing the restaurant chain to top analysts' estimates.

Revenue in the quarter ended June 29 totaled $136.6 million, the company said, compared with $101.7 million in last year's quarter. Analysts expected $132.5 million. P.F. Chang's China Bistro sales made up $123.9 million of consolidated revenue, and sales at the company's Pei Wei Asian Diner units were $12.7 million.

On a comparable-store basis, sales at the Bistro increased 5.4% during the quarter.

The company didn't provide estimated second-quarter earnings, but analysts expect the Scottsdale, Ariz., company to earn 26 cents a share. The company earned 19 cents a share in the prior-year quarter. Second-quarter results will be released July 23.

Shares of P.F. Chang's were up 22 cents recently at $48.97.