Why Cava Stock Hit a New All-Time High Today
CAVACAVA (CAVA) The Motley Fool·2024-02-28 04:35

Shares of restaurant company Cava Group (CAVA 11.86%) hit new all-time highs on Tuesday after the company released financial results for the fourth quarter of 2023, showing strong growth and encouraging profits. As of 2:30 p.m. ET, Cava stock was up about 11%.A great year for CavaIn 2023, Cava grew revenue by 60% compared to 2022, surpassing $700 million for the year. Moreover, the company was profitable with full-year net income of $13.3 million -- not bad for a small chain of only 309 locations that just ...