Pei Wei comps decrease for year, 4Q

Pei Wei comps decrease for year, 4Q
Tags: Asian, Ethnic, Food & Beverage, Operations Management
February 13, 2007

SCOTTSDALE, Ariz. — Same-store sales at Pei Wei Asian Diner decreased for the year by 2 percent. For 4Q '06, comps fell .7 percent, reported the company's parent, P.F. Chang's China Bistro Inc.

Net income for the year also decreased .1 percent. For 4Q '06, net income decreased .6 percent.

For the year, the number of Pei Wei units grew 39 percent, up from 77 in 2005 to 107 in 2006. And on Feb. 13, P.F. Chang's announced plans to open 37 new Pei Wei restaurants during 2007.

Overall, revenues at P.F. Chang's China Bistro Inc., increased 16 percent to $937.6 million for FY '06. Full-year net income fell to $33.3 million, down 12 percent from $37.7 million in 2005, the company reported.

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