CAVA Raises Full-Year Outlook After Traffic Growth Drives Earnings Beat
CAVA Group, the Mediterranean fast-casual chain, raised its full-year outlook after reporting better-than-expected earnings. Same-restaurant sales grew 9.7% in the quarter, driven by a 6.8% increase in guest traffic. The company's performance reflects strong consumer demand for its menu offerings and successful expansion efforts. CAVA now expects full-year revenue between $1.12 billion and $1.14 billion, up from prior guidance. The stock rose in after-hours trading following the announcement.
Key facts
- CAVA raised its full-year outlook
- Same-restaurant sales grew 9.7%
- Guest traffic increased 6.8%
- Earnings beat expectations
- Full-year revenue guidance raised to $1.12-$1.14 billion
- Stock rose in after-hours trading
Entities
Institutions
- CAVA Group
Sources
- Quartz —