Cava stock rises on Q2 earnings, same-store sales

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Sales Growth,Earnings Per Share,Sweet Green

Shares of Cava Group (CAVA) are rising after the closing bell on Thursday after the company posted its second quarter results, with a revenue of $233.5...

) are rising after the closing bell on Thursday after the company posted its second quarter results, with a revenue of $233.5 million, including $2.1 million of revenue from other sources, against an expected $219.5 million. In addition, the company saw a second quarter same store sales growth of 14.4% veresus, almost double the estimated 7.45%.And Brooke de Palma is here with the details.

Uh Kava jumped as much as 9% even more than 9% in after hours trading after the company beat across all key metrics.Let's take a deeper dive revenue coming in at 200 and 31.4 million and just at earnings per share coming at 17 cents and same source sales, double of what Wall Street expected up 14.4% year over year.They're alluding those that same source sales growth to higher foot traffic up 9.5% unit growth.

So as you look at the relative pricing difference between Sweet Green, some of our fast casual competitors and then Qsr, the, the gap has really narrowed.And that's exactly what we're seeing here.It's not just price anymore, it's also this experience for them and that's certainly playing off well for fast casual change this quarter.

STATEMENT FROM DENNIS DARBY, PRESIDENT & CEO, CANADIAN MANUFACTURERS & EXPORTERS FOLLOWING THE FEDERAL INTERVENTION TO RESTART RAIL SERVICES

 

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