Year over year, CPI jumped 3.4%, in line with the estimates. Core CPI, which excludes the volatile food and energy prices, rose 3.6% in April on a year-over-year basis and 0.3% sequentially, both in line with estimates. The core year-over-year CPI reading is the lowest since April 2021, while the month-over-month figure increased at its slowest pace since December. The Commerce Department reported that sales at U.S. food and drinking places totaled $94.3 billion in April, up 5.5% year over year. Sales from ...

CAVA Group, Inc. (CAVA) reported fiscal first-quarter 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate for the fourth straight time. Thanks to CAVA Group's versatile Mediterranean concept and strong economic model, the company achieved its fourth straight quarter of net income and, for the first time, positive free cash flow. The company's results also benefited from robust same restaurant sales. Earnings & Revenues Discussion The company reported adjusted earnings per ...

CAVA Group, Inc. (NYSE:CAVA) Q1 2024 Earnings Conference Call May 28, 2024 5:00 PM ET Company Participants Matt Milanovich - Head of IR Brett Schulman - Co-Founder and CEO Tricia Tolivar - CFO Conference Call Participants Chris O'Cull - Stifel Andrew Charles - TD Cowen David Tarantino - Baird Sharon Zackfia - William Blair John Ivankoe - JPMorgan Ivan Yu - Jefferies Brian Harbour - Morgan Stanley Jon Tower - Citigroup Jeffrey Bernstein - Barclays Brian Mullan - Piper Sandler Maggie Juarez - Raymond James Op ...

Restaurant Growth - CAVA restaurants increased from 309 to 323 locations, with 15 new openings during the period[175] Revenue Performance - Revenue for the sixteen weeks ended April 21, 2024, was $256.29 million, a 30.3% increase from $196.76 million in the same period last year[177] Operating Expenses - Total restaurant operating expenses rose to $191.67 million, representing 74.8% of revenue, compared to 74.6% in the prior year[177] - CAVA labor costs increased by $15.9 million, primarily due to the addition of 86 net new restaurant openings[198] Profitability - Restaurant-level profit was $64.62 million, accounting for 25.2% of revenue, slightly down from 25.4% in the previous year[177] - CAVA food, beverage, and packaging costs decreased as a percentage of revenue due to higher sales and lower input costs[184] Cash Flow - Net cash provided by operating activities increased by 49.5% to $38.39 million, up from $25.68 million year-over-year[202] - The company experienced a net change in cash and cash equivalents of $(3.31) million, an improvement from $(16.41) million in the previous year[202] Financing Activities - The company reported a net cash used in financing activities of $8.01 million, a significant increase of 167.8% compared to $2.99 million in the prior year[202] Performance Metrics - Adjusted EBITDA and Adjusted EBITDA Margin are presented as supplemental measures, highlighting trends in operating performance[200]

WASHINGTON, D.C. (May 28, 2024) - CAVA Group, Inc. (NYSE: CAVA) ("CAVA Group" or the "Company"), the categorydefining Mediterranean fast-casual restaurant brand that brings heart, health, and humanity to food, today announced financial results for its fiscal first quarter ended April 21, 2024. Restaurant Sales Growth. Had this shift not been made, CAVA Same Restaurant Sales Growth would have been 4.3%. (1) Adjusted EBITDA was $33.3 million, or 12.9% of revenue, an increase of $16.6 million, or 99.0%, compar ...

Mediterranean fast-casual food chain Cava Group (CAVA) reports Q1 earnings late Tuesday. CAVA stock hit a fresh record high ahead of results, with the hot IPO nearly doubling in 2024. X Stifel on Tuesday hiked its price target on CAVA stock to 90 from 66 and maintained a buy rating on shares, The Fly reported. The firm forecasts the report will "provide evidence of the organic flywheel effect," which occurs when incremental improvements accumulate momentum for significant growth. Meanwhile, Cava is a releva ...

Let's take a look at what these Wall Street heavyweights have to say about Cava Group (CAVA) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Cava currently has an average brokerage recommendation (ABR) of 1.61, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 14 brokerage firms. An ABR of 1.61 approximates between Strong Buy and Buy. Of the 14 recommendations that derive the ...

CAVA Group, Inc. (CAVA) is scheduled to report fiscal first-quarter 2024 results on May 28. In the last reported quarter, the company's earnings surpassed the Zacks Consensus Estimate by 100%. How are Estimates Placed? The Zacks Consensus Estimate for fiscal first-quarter 2024 earnings per share has remained stable at 3 cents over the past 30 days. In the last quarter, the company reported earnings per share of 2 cents. The consensus mark for total revenues is pegged at $245.9 million, suggesting a sequenti ...

This fast-growing restaurant chain has won over many investors already. In the past five years, Chipotle has crushed it for shareholders, skyrocketing 340%. The Tex-Mex fast casual concept is still expanding rapidly, while posting incredible profitability. It makes sense that investors seeking the next big industry winner are now taking a closer look at Cava (CAVA 6.87%), a much smaller chain. This surging restaurant stock is already up nearly 90% year to date. Does this powerful momentum make Cava a once-i ...

U.S. restaurants continue to flourish in 2024 after performing impressively for the last two years. Restaurant sales were not impacted much by severe inflationary pressure. The momentum is likely to continue for the rest of 2024. Strong Restaurant Sales in April The Department of Commerce reported that sales at U.S. bars and restaurants (adjusted for seasonal variation and holiday sales but not for price changes) came in at $93.9 billion in April, up 0.2% from March. Year over year, spending at restaurants ...