Overview
- Cava lowered its 2025 same-restaurant sales growth forecast to 3%–4% and trimmed restaurant-level margin guidance to 24.4%–24.8%.
- The company posted Q3 revenue of about $292 million and adjusted EPS of $0.12 with same-restaurant sales up 1.9%, missing consensus on both sales and earnings.
- Executives cited a modest cost headwind from tariffs, estimating roughly a 20-basis-point impact tied largely to imported beef.
- Shares fell in extended trading and several firms cut price targets, including T.D. Cowen, KeyBanc, Stifel, Piper Sandler, Bernstein and Barclays.
- Cava opened 17 net restaurants in the quarter to 415 locations and said it is gaining market share, with relatively stronger trends among lower-income guests due to restrained pricing.