NEW YORK CITY-After 10 consecutive quarters of comp-store sales declines and rising prices, PF Chang’s China Bistro is cutting the expansion of its Pei Wei Asian Diner concept to improve margins, CFO Mark Mumford said at the Cowen and Co. Consumer Conference here.

The company now will open 25 new units in 2008, down from the 37 opened in 2007. This consists of already signed leases, as well as one or two strategic units, he said. New units will be located in existing markets, to reduce pre-opening costs and make best use of experienced staff.

“It appears that the macroeconomic speed bump is more long-term in nature,” Mumford said. “This also allows us to focus on our number one priority—improving Pei Wei’s operating results.”

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