Cava Shares Drop Amid Lowered Sales Forecasts and Economic Uncertainty
TL;DR Summary
Cava Group's stock dropped 22% after missing second-quarter revenue expectations and lowering its full-year same-store sales growth forecast to 4-6%, citing a revenue shortfall despite increased restaurant openings and earnings beat. The company opened 16 new locations in the quarter and plans to open up to 70 this year, raising pre-opening cost estimates but maintaining its EBITDA outlook.
- Cava Stock Plunges on Lowered Sales Growth Outlook Barron's
- Cava stock plummets after company lowers forecast on disappointing same-store sales growth CNBC
- Earnings live: SoundHound AI stock soars, The Trade Desk tanks as Q2 earnings season starts winding down Yahoo Finance
- Cava's shares crater after first annual sales growth target cut since IPO Reuters
- Cava Cuts Outlook on Weak Second Quarter as Consumers Face ‘Fog and Uncertainty’ The Wall Street Journal
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