several names in the sector. So joining us now is Andrew Charles from TD Cowan. Andrew, it's great to have you on.Let's start right there. Why are you bringing price targets down on some of these chains. Great to be with you again, Morgan.So look, at the risk of sounding old, unfortunately, we're looking at Gen Z as a a new pocket of softness. You know, restaurant investors have heard about softness with lower income consumers as well as Hispanic consumers. We're flagging the most incremental and newest rig ...

After the Bureau of Labor Statistics reported the closely-watched Consumer Price Index for July, economists–and CNBC’s Steve Liesman–are debating the impact of tariffs on economic data points. AI platform Perplexity has offered Google a $34 billion bid for its Chrome browser. Jonathan Kanter, former DOJ Assistant Attorney General under President Biden, shares his perspective on the AI wars for search engine dominance. After Cava’s quarterly report, the fast casual chain’s stock plummeted over 24%. CEO Brett ...

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]

Stock Performance - Cava Group's shares experienced a slight increase on Wednesday [1] - KeyBanc analysts initiated coverage of Cava Group's stock with an "overweight" rating [1]