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What: Shares of restaurant company P.F. Chang’s
So what: Revenue increased 2.3% to $317.4 million but missed estimates of $320.4 million. Earnings per share also missed the market, coming in seven cents below consensus at $0.46 per share.
Now what: Lost sales of around $1.1 million at eight locations in Arizona that were raided in an immigration raid hurt results in the quarter. Higher costs are putting pressure on restaurant chains to raise prices and margins are hurting as a result. I am inclined to sit out this dip and will stick with companies with better growth prospects like Panera Bread
Interested in more info on P.F. Chang’s? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.