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) July 6, 2006

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 (see General Instruction A.2. below):

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))

TABLE OF CONTENTS

	Item 2.02 Results of Operations and Financial Condition.
	Item 9.01. Financial Statements and Exhibits.
SIGNATURES
EX-99.1

Section 2 — Financial Information

Item 2.02 Results of Operations and Financial Condition.

On July 6, 2006, P.F. Chang’s China Bistro, Inc. (the “Company”) issued a press release describing selected financial results of the Company for the quarter ended July 2, 2006. 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	July 6, 2006 Press Release by P.F. Chang’s China Bistro, Inc.

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: July 10, 2006	/s/ Mark Mumford
	Mark Mumford
	Chief Financial Officer

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EX-99.1

Exhibit 99.1

P.F. Chang’s China Bistro, Inc.

P.F. CHANG’S SECOND QUARTER REVENUES GROW 14%

SCOTTSDALE, ARIZONA (July 6, 2006) P.F. Chang’s China Bistro, Inc. (NASDAQ: PFCB) reported today consolidated revenues of $226.0 million for the second quarter ended July 2, 2006 compared to $198.1 million for the second quarter of 2005. Sales at the company’s P.F. Chang’s China Bistro units accounted for $183.7 million of consolidated revenues while sales at the company’s Pei Wei Asian Diner units accounted for $42.3 million of consolidated revenues.

For the 13 weeks ended July 2, 2006, comparable store sales decreased 1.0% at the Bistro (taking into account a 2.9% effective price increase) and decreased 3.9% at Pei Wei (taking into account a 1.7% effective price increase) as compared to the 13 weeks ended July 3, 2005. Comparable store sales declined 2.5% for April, increased 1.1% for May and declined 1.1% for June at the Bistro and decreased 5.9%, 2.9% and 2.4% for April, May and June, respectively, at Pei Wei.

During the second quarter of 2006, the company opened four new Bistro restaurants and seven new Pei Wei restaurants.

Based on the shortfall in revenue at both of our brands as well as continued pressure on labor costs, we expect that earnings per share will range between $0.29 and $0.31 for the second quarter.

The company intends to release its second quarter earnings results on July 26, 2006 at approximately 7:00 am ET. A conference call will be held later that same day at 1:00 pm ET. A webcast of the conference call can be accessed at www.pfcb.com.

P.F. Chang’s China Bistro, Inc. owns and operates two restaurant concepts in the Asian niche. P.F. Chang’s China Bistro combines high-quality, traditional Chinese cuisine with attentive service 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.

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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.		(480) 888-3000
	Media:	Laura Cherry	laurac@pfchangs.com
	Investor:	Mark Mumford	markmu@pfchangs.com

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P.F. Chang’s China Bistro

Supplemental Sales Information

Year of Unit Opening (1)

	Pre-1999			1999			2000			2001			2002			2003			2004			2005			2006		Total
Units		22			13			16			13			14			18			18			18			5		137
Sales (000)
1Q06		35,219			19,601			24,305			19,457			18,619			25,317			20,612			22,895			900		186,924
2Q06		35,003			19,072			23,712			18,567			17,679			24,593			20,345			21,388			3,345		183,705
2006		70,222			38,673			48,017			38,024			36,298			49,909			40,956			44,283			4,246		370,629
Average Weekly Sales (AWS)
1Q06		125,783			115,983			116,851			115,129			102,303			108,191			88,083			97,841			90,015		108,677
2Q06		122,389			112,852			114,001			109,866			97,137			105,098			86,943			91,404			95,583		104,914
2006		124,068			114,417			115,426			112,498			99,720			106,644			87,513			94,622			94,346		106,779
Year-Over-Year Change in AWS (2)
1Q06		1.8	%		1.3	%		0.2	%		1.1	%		1.8	%		3.0	%		-2.5	%		-5.2	%		—		0.9	%
2Q06		0.0	%		-1.3	%		-2.3	%		-0.7	%		0.5	%		0.3	%		-3.7	%		-11.3	%		—		-1.3	%
2006		0.9	%		0.0	%		-1.1	%		0.2	%		1.1	%		1.7	%		-3.1	%		-10.2	%		—		-0.2	%
Year-Over-Year Change Comp Store Sales (3)
Units		21			13			16			13			14			18			18			—			—		113
1Q06		1.3	%		1.3	%		0.2	%		1.1	%		1.8	%		3.0	%		0.1	%		—			—		1.3	%
2Q06		-0.1	%		-1.3	%		-2.3	%		-0.7	%		0.5	%		0.3	%		-3.6	%		—			—		-1.0	%
2006		0.6	%		0.0	%		-1.1	%		0.2	%		1.1	%		1.7	%		-2.2	%		—			—		0.2	%

(1)	Includes all restaurants opened in the period indicated.
(2)	A unit becomes 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		Total
Units		1			4			11			17			20			24			11		88
Sales (000)
1Q06		810			2,332			6,315			9,244			10,670			11,084			1,233		41,689
2Q06		763			2,150			5,967			8,990			10,373			10,802			3,231		42,277
2006		1,573			4,482			12,282			18,234			21,044			21,886			4,464		83,965
Average Weekly Sales (AWS)
1Q06		62,282			44,839			44,164			41,828			41,040			35,527			41,105		40,435
2Q06		58,727			41,350			41,728			40,678			39,897			34,621			36,716		38,822
2006		60,504			43,094			42,946			41,253			40,469			35,074			37,832		39,606
Year-Over-Year Change in AWS (2)
1Q06		-13.3	%		-3.8	%		0.4	%		-1.7	%		-4.4	%		-16.5	%		—		-3.0	%
2Q06		-15.0	%		-6.1	%		-2.1	%		-2.7	%		-4.4	%		-10.6	%		—		-4.3	%
2006		-14.1	%		-4.9	%		-0.9	%		-2.2	%		-4.4	%		-11.5	%		—		-3.7	%
Year-Over-Year Change Comp Store Sales (3)
Units		1			4			11			17			20			1			—		54
1Q06		-13.3	%		-3.8	%		0.4	%		-1.7	%		-2.3	%		—			—		-2.0	%
2Q06		-15.0	%		-6.1	%		-2.1	%		-2.7	%		-4.4	%		-13.8	%		—		-3.9	%
2006		-14.1	%		-4.9	%		-0.9	%		-2.2	%		-3.5	%		-13.8	%		—		-3.0	%

(1)	Includes all restaurants opened in the period indicated.
(2)	A unit becomes 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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