CAVA Stock: Cava Earnings Beat, But Traffic Decline Drags On Stock
Cava cleared estimates and lifted its outlook on key metrics for its Q1 report Tuesday. But CAVA stock falls as traffic eases.
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Cava cleared estimates and lifted its outlook on key metrics for its Q1 report Tuesday. But CAVA stock falls as traffic eases.
CAVA earnings call for the period ending March 31, 2024.
Operator: Good afternoon, ladies and gentlemen, and welcome to CAVA's First Quarter 2024 Financial Results Conference call. At this time, all lines are in a listen-only mode.
CAVA Group Inc (NYSE:CAVA) shares are trading lower Wednesday on the heels of the company's first-quarter financial results. Cava reported the same restaurant sales growth of 2.3%. The company said it opened 14 new restaurants during the quarter, bringing total locations up to 323, up 22.3% year-over-year.