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P.F. Chang's ups its Q4 outlook
The Chinese restaurant expects to report profit rose 32% to 25 cents a share, a cent over views, due to higher sales. Sales rose 30% to $115.9 mil. Same-store sales at its high-end bistros rose 5.4%. Total comps rose 4.9%, just shy of targets. P.F. Chang's rose 5% to 38.28, a seven-month high.
McDonald's ends "Innovate' plan
Pulling the plug will save tens of millions of dollars. Instead, the fast-food chain will focus on near-term benefits and restaurant ops. Installation of the "Innovate" global digital network, linking McDonald's restaurants, headquarters and vendors, was slated to start this year in Canada and France. The "Innovate" plan had been touted by recently ousted CEO Jack Greenberg.
** Burger King will sell the Whopper for 99 cents until Jan. 20, extending a brutal industry price war.
** Christopher & Banks said it's OK with analyst Q4 EPS views of 43 cents. Dec. same-store sales fell 2%, in line with views. The women's clothing chain rose 11%.