Tag: $Cava Group

Cava Group logged a double-digit increase in sales in its latest quarter as traffic rose, with the company citing its value proposition as consumers continue to look for affordability.

Cava on Tuesday lowered its full-year forecast for same-store sales growth after a disappointing second quarter. For the full year, Cava now anticipates same-store sales growth of 4% to 6%, down from its prior range of 6% to 8%.

Restaurant chain Cava’s stock soared nearly 17% to $169.40 in premarket trading on Wednesday, after it exceeded third-quarter earnings estimates on strong demand for its Mediterranean fare such as pita chips and grilled steak.

Cava on Thursday raised its full-year outlook as its restaurants reported strong traffic, fueling better-than-expected quarterly earnings and revenue.

Cava on Tuesday posted a profitable quarter for its first earnings report since its initial public offering in June.