Financial Performance - The company's stock experienced a significant drop of approximately 25% [2] - The company beat EBITDA and EPS expectations [4] - New restaurants in 2025 are trending at record level openings at $3 million plus run rate [4] - Restaurant level margin was 263% [15] Sales and Growth - Second quarter revenue and same store sales missed estimates [1] - The company is trimming its sales outlook for the year [1] - June saw a deceleration in sales, coinciding with the year-over-year comparison to the steak launch [6] - On a three-year basis, traffic grew 20% [7] - Unit growth is at 18% plus [20] Supply Chain and Costs - No inflationary pressures have been seen to date, due to the supply chain team's agility [9] - The company sources olive oil from Greece, hormone antibiotic-free beef from Australia, and basmati rice from overseas [12] - The company has vertically integrated production facilities to make dips and spreads, contributing to cost-effectiveness [13]
Cava CEO Brett Schulman on Q2 results: Very excited about the long-term trajectory of the business
CNBC Television·2025-08-13 12:54