8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): April 2, 2003

P.F. Chang’s China Bistro, Inc.

(Exact name of registrant as specified in its charter)

Delaware	0-25123	86-0815086
(State or otherjurisdiction of incorporation)	(Commission File No.)	(IRS Employer Identification No.)

15210 N. Scottsdale Road, Suite 300, Scottsdale, Arizona	85254
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (602) 957-8986

TABLE OF CONTENTS

	Item 7. Financial Statements and Exhibits.
	Item 9. Regulation FD Disclosure (Information Below is being Furnished Under Item 12)
SIGNATURES
EXHIBIT INDEX
EX-99.1

Item 7. Financial Statements and Exhibits.

(c) Exhibits

Exhibit	Description
99.1	April 2, 2003 Press Release by P.F. Chang’s China Bistro, Inc.

Item 9. Regulation FD Disclosure (Information Below is being Furnished Under Item 12)

On April 2, 2003, P.F. Chang’s China Bistro, Inc. (the “Company”) issued a press release describing selected financial results of the Company for the quarter ended March 30, 2003. Pursuant to SEC Release No. 33-8216, this press release is attached hereto as Exhibit 99.1 and is being furnished, not filed, under Item 12, Results of Operations and Financial Condition, to this Report on Form 8-K.

2

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		P.F. Chang’s China Bistro, Inc.
Date:    April 7, 2003	By:	/s/ Kristina K. Cashman
		Kristina K. Cashman Chief Financial Officer and Secretary

3

EXHIBIT INDEX

Exhibit	Description
99.1	April 2, 2003 Press Release by P.F. Chang’s China Bistro, Inc.

EX-99.1 3 p67684exv99w1.txt EX-99.1 Exhibit 99.1 P.F. CHANG'S FIRST QUARTER REVENUES GROW 35% SCOTTSDALE, ARIZONA (April 2, 2003) P.F. Chang's China Bistro, Inc. (NASDAQ: PFCB) reported today that revenues increased 35% to $131.6 million for the first quarter ended March 30, 2003 from $97.5 million in the first quarter of 2002. Sales at the company's P.F. Chang's China Bistro units accounted for $120.7 million of consolidated revenues while sales at the company's Pei Wei Asian Diner units accounted for $10.9 million of consolidated revenues. Comparable store sales at the Bistro increased 6.4% for the first quarter of 2003 as compared to the first quarter of 2002. The increase was primarily attributable to customer traffic growth with roughly 0.5% resulting from a price increase implemented in February 2003. Comparable store sales increased 8.0% for the five-week period ending February 2nd, 5.1% for the four-week period ending March 2nd and 5.8% for the four-week period ending March 30th. During the first quarter of 2003, the company opened five new Bistros (Peoria, AZ; Albuquerque, NM; Reno, NV; Tampa, FL and Grapevine, TX) and four new Pei Wei units (Phoenix, AZ; Houston, TX; Highlands Ranch, CO and Dallas, TX). In its February 12, 2003 release, the company provided a detailed forecast of its 2003 financial results. Included in this forecast was sales growth for the first quarter of 30% and earnings per share for the first quarter of $0.24. Strong revenue growth at units opened prior to this year, as well as higher than planned sales volumes at new units, resulted in better than expected revenue performance for the quarter. Given these actual revenue results, the company expects to meet or exceed its previous earnings guidance for the quarter. The company will provide actual earnings results for its first quarter of 2003 and an update of its full-year forecast on April 23rd, 2003 at 7:00 am ET. The company's release will be followed by a conference call later that day at 1:00 pm ET. A webcast of the conference call can be accessed at www.pfchangs.com P.F. Chang's China Bistro, Inc. owns and operates two restaurant concepts in the Asian niche. P.F. Chang's China Bistro features a blend of high-quality, traditional Chinese cuisine and American hospitality in a sophisticated, contemporary bistro setting. Pei Wei Asian Diner offers a modest menu of freshly prepared Asian cuisine served in a relaxed, warm environment offering attentive counter service and take-out flexibility. The statements contained in this press release that are not purely historical, including the company's estimates of its revenues, earnings and comparable store sales, are forward-looking statements. The accuracy of these forward-looking statements may be affected by certain risks and uncertainties, including, but not limited to, the company's ability to locate acceptable restaurant sites; open new restaurants and operate its restaurants profitably; the company's ability to hire, train and retain skilled management and other personnel; the company's ability to access sufficient financing on acceptable terms; changes in consumer tastes and trends; national, regional and local economic and weather conditions; changes in costs related to food, utilities and labor; and other risks described in the company's recent SEC filings. Contact: P.F. Chang's China Bistro, Inc. (602) 957-8986 Media: Laura Cherry laurac@pfchangs.com Investor: Kristina Cashman kristinac@pfchangs.com P.F.CHANG'S CHINA BISTRO Supplemental Sales Information YEAR OF UNIT OPENING (1)

Pre-1996 1996 1997 1998 1999 2000 2001 2002 2003 Total -------- ---- ---- ---- ---- ---- ---- ---- ---- ----- Units 4 3 6 10 13 16 13 14 5 84

SALES (000) 1Q03 6,434 5,908 9,060 15,753 18,800 23,236 18,815 17,983 4,751 120,740

AVERAGE WEEKLY SALES (AWS) 1Q03 123,738 151,474 116,157 121,175 111,239 111,713 111,331 98,808 143,980 113,906

YEAR-OVER-YEAR CHANGE IN AWS 1Q03 0.2% 3.7% 6.0% 5.1% 5.0% 11.0% 5.4% -1.7% 4.4%

YEAR-OVER-YEAR CHANGE COMP STORE SALES (2) Units 4 3 6 10 13 16 10 -- -- 62 1Q03 0.2% 3.7% 6.0% 5.1% 5.0% 11.0% 6.6% 6.4%

(1) INCLUDES ALL RESTAURANTS OPENED IN THE PERIOD INDICATED. (2) A UNIT BECOMES COMPARABLE IN THE EIGHTEENTH MONTH OF OPERATION PEI WEI ASIAN DINER Supplemental Sales Information YEAR OF UNIT OPENING (1)

2000 2001 2002 2003 Total ---- ---- ---- ---- ----- Units 1 4 11 4 20

SALES (000) 1Q03 868 2,390 5,762 1,835 10,855

AVERAGE WEEKLY SALES (AWS) 1Q03 66,787 45,956 40,295 52,437 44,673

YEAR-OVER-YEAR CHANGE IN AWS 1Q03 3.0% 6.4% -15.1% -6.0%

YEAR-OVER-YEAR CHANGE COMP STORE SALES (2) Units 1 1 - - 2 1Q03 3.0% -1.2% 1.1%

(1) INCLUDES ALL RESTAURANTS OPENED IN THE PERIOD INDICATED. (2) A UNIT BECOMES COMPARABLE IN THE EIGHTEENTH MONTH OF OPERATION -----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

                                  Exhibit 99.1

                  P.F. CHANG'S FIRST QUARTER REVENUES GROW 35%


      SCOTTSDALE, ARIZONA (April 2, 2003) P.F. Chang's China Bistro, Inc.
(NASDAQ: PFCB) reported today that revenues increased 35% to $131.6 million for
the first quarter ended March 30, 2003 from $97.5 million in the first quarter
of 2002. Sales at the company's P.F. Chang's China Bistro units accounted for
$120.7 million of consolidated revenues while sales at the company's Pei Wei
Asian Diner units accounted for $10.9 million of consolidated revenues.

      Comparable store sales at the Bistro increased 6.4% for the first quarter
of 2003 as compared to the first quarter of 2002. The increase was primarily
attributable to customer traffic growth with roughly 0.5% resulting from a price
increase implemented in February 2003. Comparable store sales increased 8.0% for
the five-week period ending February 2nd, 5.1% for the four-week period ending
March 2nd and 5.8% for the four-week period ending March 30th.

      During the first quarter of 2003, the company opened five new Bistros
(Peoria, AZ; Albuquerque, NM; Reno, NV; Tampa, FL and Grapevine, TX) and four
new Pei Wei units (Phoenix, AZ; Houston, TX; Highlands Ranch, CO and Dallas,
TX).

      In its February 12, 2003 release, the company provided a detailed forecast
of its 2003 financial results. Included in this forecast was sales growth for
the first quarter of 30% and earnings per share for the first quarter of $0.24.
Strong revenue growth at units opened prior to this year, as well as higher than
planned sales volumes at new units, resulted in better than expected revenue
performance for the quarter. Given these actual revenue results, the company
expects to meet or exceed its previous earnings guidance for the quarter. The
company will provide actual earnings results for its first quarter of 2003 and
an update of its full-year forecast on April 23rd, 2003 at 7:00 am ET. The
company's release will be followed by a conference call later that day at 1:00
pm ET. A webcast of the conference call can be accessed at www.pfchangs.com

      P.F. Chang's China Bistro, Inc. owns and operates two restaurant concepts
in the Asian niche. P.F. Chang's China Bistro features a blend of high-quality,
traditional Chinese cuisine and American hospitality in a sophisticated,
contemporary bistro setting. Pei Wei Asian Diner offers a modest menu of freshly
prepared Asian cuisine served in a relaxed, warm environment offering attentive
counter service and take-out flexibility.

      The statements contained in this press release that are not purely
historical, including the company's estimates of its revenues, earnings and
comparable store sales, are forward-looking statements. The accuracy of these
forward-looking statements may be affected by certain risks and uncertainties,
including, but not limited to, the company's ability to locate acceptable
restaurant sites; open new restaurants and operate its restaurants profitably;
the company's ability to hire, train and retain skilled management and other
personnel; the company's ability to access sufficient financing on acceptable
terms; changes in consumer tastes and trends; national, regional and local
economic and weather conditions; changes in costs related to food, utilities and
labor; and other risks described in the company's recent SEC filings.

        Contact: P.F. Chang's China Bistro, Inc.         (602) 957-8986

                 Media:           Laura Cherry           laurac@pfchangs.com
                 Investor:        Kristina Cashman       kristinac@pfchangs.com

                            P.F.CHANG'S CHINA BISTRO

                         Supplemental Sales Information

                            YEAR OF UNIT OPENING (1)



                      Pre-1996      1996       1997       1998       1999       2000       2001      2002        2003         Total
                      --------      ----       ----       ----       ----       ----       ----      ----        ----         -----
                                                                                               

Units                    4            3          6         10         13         16          13        14          5           84





                                                                  SALES (000)
                                                                                               
1Q03                   6,434       5,908       9,060      15,753     18,800      23,236     18,815   17,983        4,751     120,740





                                                             AVERAGE WEEKLY SALES (AWS)
                                                                                               
1Q03                  123,738      151,474     116,157    121,175    111,239    111,713    111,331   98,808      143,980     113,906





                                                              YEAR-OVER-YEAR CHANGE IN AWS
                                                                                               
1Q03                      0.2%        3.7%        6.0%       5.1%       5.0%      11.0%       5.4%    -1.7%                    4.4%






                                                         YEAR-OVER-YEAR CHANGE COMP STORE SALES (2)
                                                                                               
Units                      4          3            6         10         13         16         10        --           --         62


1Q03                      0.2%       3.7%         6.0%      5.1%       5.0%       11.0%      6.6%                              6.4%






(1) INCLUDES ALL RESTAURANTS OPENED IN THE PERIOD INDICATED.

(2) A UNIT BECOMES COMPARABLE IN THE EIGHTEENTH MONTH OF OPERATION

                               PEI WEI ASIAN DINER

                         Supplemental Sales Information

                            YEAR OF UNIT OPENING (1)



             2000       2001      2002      2003                                              Total
             ----       ----      ----      ----                                              -----
                                                                               

Units          1          4         11         4                                                20







                                                       SALES (000)
                                                                               
1Q03          868       2,390     5,762      1,835                                            10,855







                                                   AVERAGE WEEKLY SALES (AWS)
                                                                               
1Q03         66,787     45,956    40,295    52,437                                            44,673








                                                   YEAR-OVER-YEAR CHANGE IN AWS
                                                                                
1Q03          3.0%       6.4%     -15.1%                                                       -6.0%








                                             YEAR-OVER-YEAR CHANGE COMP STORE SALES (2)

                                                                                 
Units         1          1         -          -                                                   2


1Q03          3.0%       -1.2%                                                                  1.1%





(1) INCLUDES ALL RESTAURANTS OPENED IN THE PERIOD INDICATED.
(2) A UNIT BECOMES COMPARABLE IN THE EIGHTEENTH MONTH OF OPERATION