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Cava went public in June 2023 and is now on track to do over $11 billion in revenue this year, per estimates from Visible Alpha, and its early pace of growth has even eclipsed what Chipotle ...
Cava's strong same-restaurant sales over the past two years have increased the company's average unit volumes (AUVs) -- the average amount of sales its restaurants generate in a year -- to $2.8 ...
Although profitable, Cava shares are still very expensive, priced at more than 300 times this year's expected per-share earnings of $0.42 and just under 300 times next year's expected $0.50. The ...
In November 2018, Cava Group bought Zoës Kitchen, a restaurant chain with more than 250 locations, in a deal worth $300 million, taking the company private and helping Cava expand further into the suburbs. [6] [17] [18] As of August 2021, there are 133 Cava locations. All Cava restaurants are company-owned, and none are franchised. [6]
This metric measures how well existing locations are performing. Cava's same-store sales in the second quarter were a very strong 14.4%. That beat even Chipotle, which had same-store sales of 11.1%.
Despite the expensive nature of the stock, I still like Cava over the long term. Traffic increased 9.5% during the quarter, which again is in contrast to what was a weaker quarter for restaurants.
Image source: Cava. Cava shines again. Cava said that comparable sales surged 14.4% in the period, driven by 9.5% traffic growth. That drove revenue up 35.2% to $231.4 million, which was ahead of ...
The trend Cardenas notes comes at a time when consumers are seeing fast food as unaffordable, with 78% of Americans calling fast food a “luxury” because of its price tag, and 60% saying they ...