SCOTTSDALE Ariz. P.F. Chang's China Bistro Inc., operator of the namesake casual-dining chain and the fast-casual Pei Wei Asian Diner, reported a 38-percent increase in first-quarter profit as cost controls offset sales declines at both its concepts.
The company also boosted its full-year profit guidance because of expected improvements to operating margins. P.F. Chang's stock surged more than 20 percent on the news to close Wednesday at $32.54.