The Mediterranean takeout restaurant chain Cava Group reported an unexpected profit, shrugging off the effects of inflation and a generally uncertain economy.
Revenue jumped 49.5% from the same time last year as the chain opened 95 restaurants and more people visited its existing outlets, the company said. Cava also increased its forecast for profit in its fiscal 2023. The company now expects adjusted earnings before interest, taxes, depreciation, and amortization of between $70 million and $73 million, up from the $62 million to $67 million it had predicted.
The strong performance comes regardless of inflation, high interest rates, the resumption of payments on student loans, and worry about tensions overseas.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MSG Entertainment Earnings: Revenue Down 3% Without Harry StylesThe company, which spun off in April, suffered a tough comparison to the prior-year quarter but has high expectations for the rest of 2023.
Source: billboard - 🏆 112. / 63 Read more »
These tech stocks were big winners this earnings season even as AI hype slowedMicrosoft proves its strength; Qualcomm may have turned a corner
Source: MarketWatch - 🏆 3. / 97 Read more »
Il Makiage parent Oddity’s third-quarter earnings top estimatesCompany again raises its full-year guidance
Source: MarketWatch - 🏆 3. / 97 Read more »
Fashion's Top Takeaways from Tech EarningsBig Tech’s rebound was apparent during earnings. So was a greater push toward AI. Here’s how that’s changing the game for platforms and the brands that rely on them.
Source: wwd - 🏆 24. / 68 Read more »
Earnings-season winners: 20 companies that have grown sales while improving profit marginsThese earnings-season winners not only increase sales, they show pricing power for their products and services
Source: MarketWatch - 🏆 3. / 97 Read more »
Datadog's stock explodes toward best day on record after earningsDatadog ’emphatically dispelled’ worries that its growth trends were disconnecting from Amazon’s AWS trajectory, analyst says
Source: MarketWatch - 🏆 3. / 97 Read more »