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Cava Stock Tumbles After Disappointing Q2 Earnings and Guidance Cut
Cava Stock Tumbles After Disappointing Q2 Earnings and Guidance Cut
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BTCCSquare news:
Shares of fast-casual chain Cava (CAVA) plunged this week following a Q2 earnings miss, with revenue falling short of estimates and same-store sales growth slowing to 2.1%. The company slashed its full-year same-store sales guidance by 200 basis points to 4%-6%, citing tougher year-over-year comparisons from last year's steak menu launch and an unexpected "honeymoon effect" slowdown at newer locations.
CFO Tricia Tolivar acknowledged macroeconomic pressures but noted stable premium item attachment rates. While guest traffic metrics weren't disclosed, management observed same-store sales reacceleration in late June - potentially signaling the downturn may be temporary for the Mediterranean-focused chain.
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