8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): January 3, 2008

P.F. Chang’s China Bistro, Inc.
(Exact name of registrant as specified in its charter)

Delaware	0-25123	86-0815086
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

7676 E. Pinnacle Peak Road, Scottsdale, Arizona	85255
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (480) 888-3000

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 – Financial Information

Item 2.02 Results of Operations and Financial Condition.

On January 3, 2008, P.F. Chang’s China Bistro, Inc. (the “Company”) issued a press release describing selected financial results of the Company for the fiscal quarter and year ended December 30, 2007. The press release is attached hereto as Exhibit 99.1 and, in addition to this Report on Form 8-K and pursuant to General Instruction B.2 of Form 8-K, is being furnished, not filed, for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

Section 9 — Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.

Exhibit No.	Description
99.1	January 3, 2008 Press Release by P.F. Chang’s China Bistro, Inc.

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: January 3, 2008
	/s/ Mark D. Mumford
	Mark D. Mumford Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	January 3, 2008 Press Release by P.F. Chang’s China Bistro, Inc.

EX-99.1

Exhibit 99.1

P.F. CHANG’S CHINA BISTRO, INC.

P.F. CHANG’S FOURTH QUARTER REVENUES GROW 16%

SCOTTSDALE, ARIZONA (January 3, 2008) P.F. Chang’s China Bistro, Inc. (NASDAQ: PFCB) today reported consolidated revenues of $292.6 million for the fourth quarter ended December 30, 2007 compared to $252.0 million for the fourth quarter of 2006. Sales at company owned P.F. Chang’s China Bistro restaurants accounted for $225.9 million of consolidated revenues, sales at the company’s Pei Wei Asian Diner restaurants accounted for $65.9 million of consolidated revenues and sales at the company’s Taneko Japanese Tavern restaurant accounted for $0.7 million of consolidated revenues.

For the 13 weeks ended December 30, 2007, comparable store sales decreased 1.0% at the Bistro (including a 5% increase in the average check reflecting the net impact of price and menu mix changes driven by the broader rollout of the new grill menu as well as other initiatives) and decreased 0.5% at Pei Wei compared to the 13 weeks ended December 31, 2006. Comparable store sales at the Bistro decreased 2.0% and 0.8% for October and November, respectively, and did not change for December. Comparable store sales at Pei Wei decreased 0.8% for October, increased 0.4% for November and decreased 0.9% for December at Pei Wei.

The company continues to experience rising restaurant operating costs which are anticipated to have a greater impact during the fourth quarter than previously forecast.

During the fourth quarter of 2007, the company opened ten new Bistro restaurants and seven new Pei Wei restaurants.

The company intends to release its fourth quarter earnings results on February 13, 2008 at approximately 7:00 am ET. A conference call will be held later that same day at 12:00 pm ET. A webcast of the conference call can be accessed at www.pfcb.com.

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P.F. Chang’s China Bistro, Inc. owns and operates three 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 in a relaxed, warm environment offering attentive counter service and take-out flexibility. Taneko Japanese Tavern features natural, organic and seasonal ingredients highlighting the diverse cooking styles of Japan.

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; customer acceptance of new concepts; 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.			(480) 888-3000
	Media:	Laura Cherry	laura.cherry@pfcb.com
	Investor:	Mark Mumford	mark.mumford@pfcb.com

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P.F. Chang’s China Bistro

Supplemental Sales Information (Company Owned)

Year of Unit Opening (1)

	Pre-2000			2000			2001			2002			2003			2004			2005			2006			2007		Total
Units		35			16			13			14			18			18			18			20			20		172
Sales (000)
1Q07		54,138			23,539			18,803			18,201			24,965			20,158			21,081			25,819			283		206,987
2Q07		53,462			23,073			18,150			17,366			24,516			20,482			20,777			24,273			6,002		208,101
3Q07		52,397			22,804			17,605			16,646			24,173			20,438			20,522			23,248			10,643		208,475
4Q07		53,321			23,415			18,305			17,177			24,447			20,185			20,879			23,452			24,759		225,941
2007		213,318			92,832			72,863			69,390			98,101			81,263			83,259			96,792			41,687		849,505
Average Weekly Sales (AWS)
1Q07		118,984			113,168			111,264			100,004			106,687			86,144			90,092			99,305			94,358		104,592
2Q07		117,500			110,928			107,398			95,418			104,771			87,530			88,792			93,357			115,426		102,615
3Q07		115,158			109,637			104,171			91,461			103,302			87,340			87,700			89,414			104,344		100,325
4Q07		117,188			112,574			108,312			94,380			104,476			86,262			89,227			90,201			108,592		102,514
2007		117,208			111,577			107,786			95,316			104,809			86,817			88,953			93,069			108,279		102,486
Year-Over-Year Change in AWS (2)
1Q07		-2.5	%		-3.2	%		-3.4	%		-2.2	%		-1.4	%		-2.2	%		-7.9	%		-37.5	%		—		-3.3	%
2Q07		-1.1	%		-2.7	%		-2.2	%		-1.8	%		-0.3	%		0.7	%		-2.9	%		-13.8	%		—		-1.6	%
3Q07		-1.3	%		-2.2	%		-2.4	%		-2.8	%		-1.0	%		0.0	%		-1.9	%		-7.6	%		—		-1.8	%
4Q07		-0.9	%		-1.7	%		-0.4	%		-3.4	%		-0.3	%		-0.6	%		-0.4	%		-13.9	%		—		-2.4	%
2007		-1.4	%		-2.4	%		-2.1	%		-2.5	%		-0.8	%		-0.5	%		-3.4	%		-13.1	%		—		-2.3	%
Year-Over-Year Change Comp Store Sales (3)
Units		35			16			13			14			18			18			18			6			—		138
1Q07		-2.5	%		-3.2	%		-3.4	%		-2.2	%		-1.4	%		-2.2	%		-3.4	%		—			—		-2.5	%
2Q07		-1.1	%		-2.7	%		-2.2	%		-1.8	%		-0.3	%		0.7	%		-1.8	%		-24.5	%		—		-1.3	%
3Q07		-1.3	%		-2.2	%		-2.4	%		-2.8	%		-1.0	%		0.0	%		-1.9	%		-15.4	%		—		-1.6	%
4Q07		-0.9	%		-1.7	%		-0.4	%		-3.4	%		-0.3	%		-0.6	%		-0.4	%		1.1	%		—		-1.0	%
2007		-1.4	%		-2.4	%		-2.1	%		-2.5	%		-0.8	%		-0.5	%		-1.8	%		-2.0	%		—		-1.6	%

(1)	Includes all restaurants opened in the period indicated.
(2)	A unit is included in the year-over-year change in AWS in the thirteenth month of operation.
(3)	A unit becomes comparable in the eighteenth month of operation.

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Pei Wei Asian Diner

Supplemental Sales Information

Year of Unit Opening (1)

	2000			2001			2002			2003			2004			2005			2006			2007		Total
Units		1			4			11			17			20			24			30			37		144
Sales (000)
1Q07		782			2,278			6,196			9,378			10,689			11,502			13,784			2,040		56,649
2Q07		737			2,095			5,869			9,212			10,474			11,150			13,337			5,769		58,643
3Q07		685			1,944			5,544			8,731			10,385			11,113			13,121			10,214		61,738
4Q07		697			1,990			5,559			8,700			10,369			11,089			13,032			14,495		65,930
2007		2,902			8,307			23,168			36,021			41,917			44,854			53,274			32,518		242,960
Average Weekly Sales (AWS)
1Q07		60,181			43,804			43,330			42,436			41,111			36,866			35,343			37,086		39,177
2Q07		56,700			40,283			41,043			41,683			40,286			35,736			34,198			34,137		37,592
3Q07		52,718			37,391			38,766			39,507			39,941			35,620			33,643			33,272		36,359
4Q07		53,612			38,273			38,872			39,365			39,881			35,540			33,415			31,172		35,523
2007		55,803			39,938			40,503			40,748			40,305			35,941			34,150			32,649		37,037
Year-Over-Year Change in AWS (2)
1Q07		-3.4	%		-2.3	%		-1.9	%		1.5	%		0.2	%		3.8	%		-10.9	%		—		0.6	%
2Q07		-3.5	%		-2.6	%		-1.6	%		2.5	%		1.0	%		3.2	%		-4.7	%		—		0.8	%
3Q07		-7.9	%		-7.3	%		-5.8	%		-2.4	%		1.2	%		2.8	%		-8.0	%		—		-2.0	%
4Q07		-9.7	%		-6.2	%		-6.0	%		-1.9	%		1.9	%		2.7	%		-3.2	%		—		-1.2	%
2007		-6.1	%		-4.5	%		-3.8	%		-0.1	%		1.1	%		3.1	%		-5.3	%		—		-0.5	%
Year-Over-Year Change Comp Store Sales (3)
Units		1			4			11			17			20			24			15			—		92
1Q07		-3.4	%		-2.3	%		-1.9	%		1.5	%		0.2	%		2.9	%		—			—		0.5	%
2Q07		-3.5	%		-2.6	%		-1.6	%		2.5	%		1.0	%		2.7	%		-6.8	%		—		1.0	%
3Q07		-7.9	%		-7.3	%		-5.8	%		-2.4	%		1.2	%		2.8	%		-2.2	%		—		-1.0	%
4Q07		-9.7	%		-6.2	%		-6.0	%		-1.9	%		1.9	%		2.7	%		0.6	%		—		-0.5	%
2007		-6.1	%		-4.5	%		-3.8	%		-0.1	%		1.1	%		2.8	%		-0.5	%		—		0.0	%

(1)	Includes all restaurants opened in the period indicated.
(2)	A unit is included in the year-over-year change in AWS in the thirteenth month of operation.
(3)	A unit becomes comparable in the eighteenth month of operation.

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