Reported 4 months ago
Cava Group (CAVA) reported first-quarter results that surpassed Wall Street estimates, with adjusted earnings per share of $0.12 beating expectations of $0.046 and revenue of $259.0 million exceeding the $245.9 million estimate. The company also raised its full-year comparable sales guidance to +4.5% to +6.5%, up from the previous +3% to +5%, and better than the +4.52% estimate. Despite the positive results, Cava's shares dropped. The company attributes the increase in comparable sales to the addition of grilled steak to its menu.
Source: YAHOO