P.F. Chang’s outlines turnaround plan

P.F. Chang’s outlines turnaround plan

After 2Q earnings drop, chain discusses menu, remodeling

P.F. Chang’s China Bistro Inc. unveiled a series of initiatives and more-affordable menu items designed to drive traffic and combat a 29-percent decline in second-quarter earnings, the company reported Wednesday.

The company also downgraded its outlook for the year, saying earnings would be between $1.60 and $1.70 per share, compared with earlier projections of $2.15 to $2.20. Same-store sales for its two concepts will likely fall 2 percent to 3 percent for the year, the c

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