Cava earnings beat estimates as restaurant traffic climbs nearly 10%

Customers arrive at a Cava restaurant in New York City, U.S., June 22, 2023. Cava on Thursday raised its full-year outlook as its restaurants reported strong traffic, fueling better-thanexpected quarterly earnings and revenue. Shares of the company rose 7% in extended trading. The stock has more than doubled its value this year, bringing Cava's market cap up to about $11.6 billion, as of Thursday's close. Here's what the company reported for the quarter ended July 14 compared with what Wall Street was expec ...