Reported 11 days ago
Cava Group has raised its annual same-restaurant sales growth forecast to 12-13%, up from 8.5-9.5%, signaling strong demand for its Mediterranean menu amid a wider consumer spending slowdown. The company's shares jumped 13.1% following this announcement, reflecting a threefold increase in stock value this year. With foot traffic increasing by 27.5% in Q3, Cava is attracting a younger demographic, enhanced by its revamped loyalty program and effective menu pricing strategy.
Source: YAHOO