Cava Group, Inc. - CAVA STOCK NEWS

CAVA, the Mediterranean fast-casual restaurant chain, has launched Hot Harissa Pita Chips as a -time offering available through summer at all locations nationwide. This spicy variation builds on their classic pita chips by incorporating their signature harissa spice blend.

To promote the launch, CAVA has released its first-ever music video set to the 2000s hit 'Can't Get You Out of My Head,' choreographed and directed by L.A.-based artist Erin Murray. The video aims to capture the joy customers experience with CAVA's food.

The new Hot Harissa Pita Chips can be paired with various menu items, including the Harissa Avocado Bowl and Steak + Harissa Bowl, or enjoyed with dips and spreads. The launch is accompanied by a seasonal Strawberry Citrus Juice offering.

CAVA (NYSE: CAVA), the Mediterranean fast-casual restaurant brand, has expanded into South Florida with its first location in Hialeah. The new 2,200-square-foot restaurant features a 40-seat dining room, digital order pick-up, and delivery services, operating from 10:45 a.m. to 10:00 p.m.

The company continues its aggressive expansion strategy, targeting 1,000 restaurants by 2032. CAVA opened 58 net new restaurants in FY2024 and projects at least 17% growth in 2025. The Hialeah location will employ 25-40 local staff and maintains the company's tradition of community engagement through its Community Day program, which has raised over $600,000 in donations since 2019.

The new location marks CAVA's entry into its 26th state, following recent expansion into Indiana. The company offers competitive benefits including healthcare, paid time off, and mental health support for employees.

CAVA (NYSE: CAVA) has introduced a new brand character named 'Peter Chip' as part of its marketing strategy. To celebrate the character's birthday, which coincides with National Pita Day on March 29, the Mediterranean fast-casual restaurant chain will offer complimentary pita chips to all CAVA Rewards members.

The promotion will be automatically added to rewards accounts and can be redeemed in restaurants or through digital ordering on March 29 at participating locations nationwide. The company is also launching a social media campaign featuring Peter Chip across TikTok, Instagram, and other platforms.

CAVA (NYSE: CAVA), the Mediterranean fast-casual restaurant brand, has opened its first location in the Indianapolis metropolitan area at Fishers, Indiana. The new 3,000-square-foot restaurant features a 40-seat dining room, digital order pick-up, and delivery services, operating from 10:45 a.m. to 10:00 p.m.

This expansion marks CAVA's presence in 26 states and D.C., with plans for a second Indianapolis location later this year. The company opened 58 net new restaurants in FY2024 and projects at least 17% growth in 2025, targeting 1,000 locations by 2032.

The Fishers location will employ 25-40 local staff and participated in CAVA's Community Day program, raising funds for Gleaners Food Bank of Indiana. The company's national food donation program, launched in fall 2023, aims to address food insecurity and reduce waste during new location openings.

CAVA Group reported strong financial results for Q4 and full year 2024. The Mediterranean fast-casual restaurant chain achieved 35.1% revenue growth (excluding 53rd week of 2023), reaching $954.3 million for the full year. Key highlights include:

- Same Restaurant Sales Growth of 13.4% with 8.7% traffic growth
- 58 net new restaurant openings in 2024, reaching 367 total locations
- Average Unit Volume (AUV) of $2.9 million
- Restaurant-Level Profit Margin of 25.0%
- Digital Revenue Mix of 36.4%

Q4 2024 showed particularly strong performance with 21.2% Same Restaurant Sales Growth and revenue of $225.1 million. The company's net income reached $130.3 million for the full year, including an $80.1 million tax benefit from valuation allowance release.

CAVA Group (NYSE: CAVA) has scheduled its fourth quarter and full year 2024 financial results announcement for February 25, 2025. The Mediterranean fast-casual restaurant chain will release its financial results press release at approximately 4:10 PM Eastern Time, followed by a conference call at 5:00 PM Eastern Time. The call will be accessible via webcast on the company's investor relations website at investor.cava.com, where a recording will remain available for up to one year.

CAVA has announced a partnership with Olympic gold medalist sprinter Gabby Thomas, launching three -time menu items for early 2025. The collaboration aims to promote a Mediterranean approach to wellness that embraces abundance rather than restrictions. The new menu items include the Spicy Lamb + Avocado Bowl, the Falafel Crunch Bowl, and the Garlic Chicken + Veggie Pita.

Thomas, who is preparing for U.S. Nationals and World Championships while continuing her public health work, has been a long-time CAVA customer. The new chef-curated items feature high-quality ingredients supporting a healthy and active lifestyle, including combinations of SuperGreens, black lentils, Crazy Feta®, and various Mediterranean-inspired proteins and toppings.

CAVA Group (NYSE: CAVA) has announced its participation in the upcoming Morgan Stanley Global Consumer and Retail Conference on December 4, 2024. The Mediterranean fast-casual restaurant brand will be represented by Co-Founder and CEO Brett Schulman and CFO Tricia Tolivar, who will engage in one-on-one meetings and conduct a fireside chat at 10:15 AM EST. Investors and interested parties can access both the live fireside chat and its replay through the 'Events and Presentations' section on CAVA's investor relations website at investor.cava.com.

CAVA Group reported strong Q3 2024 results with revenue growing 39.0% to $241.5 million, driven by 18.1% same-restaurant sales growth and 12.9% increase in guest traffic. The company opened 11 net new restaurants, reaching 352 total locations, representing 21.4% year-over-year growth. Average unit volume reached $2.8 million, while restaurant-level profit margin improved to 25.6%. Net income increased to $18.0 million from $6.8 million in the prior year quarter. Based on strong performance, CAVA raised its fiscal 2024 guidance, projecting 56-58 new restaurant openings and same-restaurant sales growth of 12.0-13.0%.