Cava Stock Sizzles as New Grilled Steak Tops Expectations
CAVA (CAVA) Investopedia·2024-08-23 23:20
Key Takeaways Cava Group raised its 2024 same-store sales estimate to 9% from 5.5% at the midpoint. Same-store sales grew 14.4% year-over-year and Cava added a net 18 locations in the second quarter. CEO Brett Schulman said the company's new grilled steak offering was performing better than expected. Shares soared 17% in intraday trading Friday and are up more than 175% in 2024. Cava Group (CAVA) shares surged in intraday trading Friday, a day after the company raised its 2024 guidance and said its new gril ...