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Are the traffic gains at CAVA sustainable?Are the traffic gains at CAVA sustainable?

Holly Petre, Assistant Digital Editor

February 28, 2024

 

CAVA is continuing to ride high after its IPO debut in June. The fast-casual restaurant company released its Q4 and fiscal year earnings on Monday and the results bucked the industry trends that have so far emerged during earnings season.

For the quarter ended Dec. 31, CAVA saw revenue grow 52.5% to $175.5 million compared to $115.0 million in the prior year quarter. CAVA ended fiscal year 2023 with 59.8% revenue growth to $717.1 million.

Unlike many of its restaurant industry peers, CAVA saw double-digit same-store sales growth both for the quarter and the full year. For Q4, excluding the 53rd week of 2023, same-store sales were up 11.4% while full-year results were up 17.9%.

CAVA same-store sales growth for Q4 consists of 6.2% from guest traffic and 5.2% from menu pricing. 

About the Author

Holly Petre

Assistant Digital Editor

Holly Petre is a digital editor for Nation’s Restaurant News as well as the host of NRN’s podcast, Extra Serving, and producer for Informa Restaurant and Food Group’s other three podcasts, One On One by Food Management, Off the Shelf with SN and In the Kitchen with Bret Thorn. Holly holds a Bachelor of Fine Arts with a concentration in Sculpture, fibers and Material Studies and Ceramics from the School of the Art Institute of Chicago. A native New Yorker, Holly enjoys her place on staff as the resident pop-culture expert and millennial with a sassy attitude and great sense of style.

Holly Petre’s work on Nation’s Restaurant News and Restaurant Hospitality often covers marketing and trends, either aimed-at or examined-through the millennial mindset. Holly is responsible for introducing TikTok and Twitch to NRN and RH readers as well as explaining terms like “Karen” to staff and readers alike. She also spends her time on staff trying not to make every headline a pun.

Holly Petre hasn’t spoken at any events or on panels, but she is readily available with a killer shoe wardrobe and several witty quips.

 

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