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Mediterranean chain Cava lowers forecast after disappointing same-store sales growth
CNBCยท 2025-08-12 20:11
Customers arrive at a Cava restaurant in New York City on June 22, 2023.Cava on Tuesday lowered its full-year forecast for same-store sales growth after a disappointing second quarter.For the full year, Cava now anticipates same-store sales growth of 4% to 6%, down from its prior range of 6% to 8%.Shares of the company plunged 20% in extended trading. The stock has fallen 40% this year, including the after-hours move.Here's what the company reported compared with what Wall Street was expecting, based on a s ...