Cava Raises Annual Sales Outlook After 32% Revenue Gain, 6.8% Traffic Growth
Cava raised its annual sales outlook after first-quarter traffic remained strong despite pressure on consumer budgets across the restaurant industry. The company said revenue rose 32.2% from a year earlier to $434.4 million, while same-restaurant sales increased 9.7%, including guest-traffic growth of 6.8%.
Cava opened 20 net new restaurants during the quarter, bringing its total to 459. The company reported net income of $23.6 million and adjusted EBITDA of $61.7 million.
From the sources (3 posts)
@alphasenseinc$CAVA Earnings: - CAVA Revenue grew 32.2% to $434.4 million as compared to $328.5 million in the prior year quarter and 69.5% as compared to the first quarter of fiscal 2024. - Net New CAVA Restaurant Openings of 20, bringing total CAVA Re
@businessCava raised its annual sales outlook after diners flocked to its restaurants in the first quarter, defying the crunch in consumer budgets that has weighed on the industry
@stocktwits$CAVA up almost 6% post-market after reporting earnings but the Stocktwits community isn't necessarily sold on the results🥙