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Should Cava get to that scale, its sales would be astronomically higher. Each location on average brings in $2.6 million in annual sales, while registering a 25.2% restaurant-level margin.
In 2023, Cava locations did $2.6 million in average unit volumes (AUVs) with 24.8% restaurant-level profit margins. This novel concept seems to be resonating with customers, as foot traffic per ...
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]
Cava is also different from almost any other player of its ilk by virtue of remaining debt-free. As of April, the company only owed $122,000 in long-term obligations versus $329,000 in cash or ...
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 ...
By comparison, in Cava's fiscal Q2, which ended July 14, it produced revenue of $231.4 million and $19.7 million in net income, equating to growth of 35.2% and 203.1% year over year, respectively.
In the third quarter, Cava handily outpaced Chipotle in a few key areas. The Mediterranean restaurant chain reported revenue growth of 39% year over year, compared to Chipotle's 13%.