Cava earnings beat estimates as restaurant traffic climbs nearly 10%

The Mediterranean restaurant chain said its fiscal second-quarter traffic climbed 9.5%, bucking industry trends.Shares of the company have more than doubled their value this year, bringing Cava's market cap up to about $11.6 billion, as of Thursday's close.

Cava opened 18 net new locations during the quarter, bringing its total footprint up to 341 restaurants.

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