Cava cuts full-year outlook

Company Performance - Cava's same-store sales increased by 21%, falling short of the expected 61% [1] - Traffic remained approximately flat during the quarter [2] - Cava reduced its full-year same-store sales forecast to a range of 4% to 6% growth [2] - Cava is testing new menu innovations like chicken schwarma, salmon, and cinnamon pita chips [3] - Cava increased its store count guidance for the full year [3] Industry Trends - The casual dining space is experiencing a "fluid macroeconomic environment" impacting consumer behavior [4] - Sweet Green also experienced a same-store sales miss and cut guidance due to consumer pullback [4][5] - Fast casual restaurants like Cava and Sweet Green, which were top performers in 2024 (up 162% and 183% respectively), are now facing pressure [5] - Fast food and casual dining names are performing better as diners seek more affordable options [6] - Chili's same-store sales are up 39% on a three-year stack [6] - Consumer spending varies significantly by company, influencing stock performance [8]