Cava Cuts Full-Year Outlook Amidst Fast Casual Dining Slowdown

Cava's Financial Performance and Guidance

• 📉 Cava reported a tough quarter with positive same-store sales of 2.1%, significantly lower than the 6.1% expected by the street.
• ⚠️ Traffic was approximately flat, impacted by lapping a strong Q2 last year when Cava saw over 14% same-store sales growth following the introduction of stake.
• 📊 The company cut its full-year same-store sales forecast to a new lower range of 4% to 6% growth.

Menu Innovation and Growth Strategies

• 💡 Cava is testing new menu items, including chicken schwarma, salmon, and cinnamon pita chips, to drive future innovation.
• 📈 Average unit volumes are up, and the company raised its store count guidance for the full year.
• 🌫️ CFO Trisha Tolivar cited a fluid macroeconomic environment creating consumer uncertainty, leading consumers to