Cava trims sales outlook amid heavy competition. But it's wary of diving into the discounting fray.

Core Insights - Cava Group, a Mediterranean fast-casual chain, reported third-quarter results that fell short of Wall Street's expectations due to challenges faced by younger and middle-income consumers amid rising costs and competitive pressures [1] Company Performance - The third-quarter results indicated that Cava Group's performance was negatively impacted by economic factors affecting consumer spending [1] - The company is experiencing increased competition in the fast-casual dining sector, which is further straining its market position [1] Consumer Trends - Younger and middle-income consumers are particularly struggling with higher costs, which is influencing their dining choices and spending habits [1] - The economic environment is leading to a shift in consumer behavior, affecting sales in the fast-casual segment [1]