Cava earnings beat estimates as restaurant traffic climbs nearly 10%
Publishing timestamp: 2024-08-22 20:11:17
Summary
Cava beat Wall Street's estimates for quarterly earnings and revenue, with a 9.5% increase in traffic and raised full-year forecast. Shares rose 9% in extended trading, with a market cap of $11.6 billion. Company reported earnings per share of 17 cents vs. 13 cents expected and revenue of $233 million vs. $220 million expected. Same-store sales rose 14.4% and company opened 18 net new locations. Raised full-year outlook with expectations of same-store sales growth of 8.5% to 9.5% and opening 54 to 57 new locations.
Sentiment: POSITIVE
Tickers: CAVA,
Keywords: breaking news: business, restaurants, markets, breaking news: markets, earnings, cava group inc, retail industry, business, dividends, business news,
Source: https://www.cnbc.com/2024/08/22/cava-group-cava-earnings-q2-2024.html