Good morning. As consumer pressure becomes more visible in the restaurant industry, Cava remains focused on growth and building its leadership pipeline.
Cava, the Mediterranean-inspired fast-casual restaurant led by CEO Brett Schulman, reported its third-quarter earnings last week. Revenue increased 20% to $289.8 million. However, the company reduced its full-year sales growth guidance after reporting flat foot traffic and a 1.9% increase in comparable sales, short of Wall Street expectations for 2.7%.
