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Stock impact report

CAVA Group (NYSE:CAVA): Investors' Appetite for the Salad Chain Is Growing [Yahoo! Finance]

CAVA Group, Inc. (CAVA) 
Company Research Source: Yahoo! Finance
Shares of the fast-casual chain hit a fresh record high of $77.14 on Monday, less than a year after opening at an IPO price of $42.00. The mid-cap high-flier is up more than 70% year-to-date and is showing no sign of slowing down. CAVA Group is an up-and-coming restaurant operator that is based in Washington, D.C. Boldly going head-to-head with Chipotle ( NYSE:CMG ), it offers a variety of heart-healthy Mediterranean bowls and pitas at locations across the United States. CAVA Group stock is currently on an impressive seven-month win streak on the backs of some strong 2023 financials. In a tough discretionary spending environment, the company grew revenue and same-restaurant sales by 60% and 18%, respectively, last year. It is not only growing by expanding its footprint but also by generating higher sales at existing locations. In addition to producing strong top-line growth, CAVA Group is already profitable. The company has recorded profits in each of the first three quarters si Show less Read more
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