Cava wraps landmark year with traffic growth exceeding 10%

Cava Group Inc. concluded its first year as a public company with significant achievements, including an 18% increase in same-store sales and a swing to profitability with $13.3 million in net income. Despite these strong results, the fast-casual chain is projecting more modest “normalized” same-store sales growth of 3% to 5% for fiscal 2024, along with plans to open 48 to 52 new restaurants. CEO Brett Schulman highlighted the company’s “investment in the guest” by largely holding back menu price increases, even in anticipation of California’s fast-food wage increase.