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P.F. Chang's Third-Quarter Same-Store Sales Fall

P.F. Chang'sChina Bistro said Wednesday sales at its bistro restaurants open at least 18 months fell 1.6% in the third quarter despite price increases, and said its earnings would miss its previous forecast.

The company also said same-store sales fell 1% at its Pei Wei Asian Diner restaurants.

Revenue in the third quarter was $270.8 million, below its expectation for $273.0 million. That shortfall will cause earnings to be 5 cents to 7 cents lower than the company's forecast of 25 cents per share.

Analysts on average had been expecting earnings of 25 cents per share on revenue of $272.4 million, according to Reuters Estimates.

The Scottsdale, Arizona-based company also cited "unanticipated costs" related to its labor force, repairs, maintenance and restaurant supplies, the acceleration of a roll-out of new restaurants and a fire at a restaurant in Nashville, Tennessee.

During the third quarter, P.F. Chang opened five new Bistro restaurants and 11 new Pei Wei restaurants.