Cava reports surprise same-store sales growth, driven by menu prices [MSNBC.com]
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Source: MSNBC.com
CavaShares gained roughly 10% in extended trading Tuesday."While there are a lot of factors around us that are creating pressures from a margin perspective, our model has allowed us to be very thoughtful and minimize price increases to our guests and to consumers in general, which really helps elevate our value perception," CFO Tricia Tolivar told CNBC.Though the company saidlast quarter"We actually saw firming in that category, and overall [we're] seeing improvement in our trends across income cohorts, age cohorts, different parts of the country," Tolivar said. "And in fact, we believe there's a little bit of a bridge that we've been able to create in this K-shaped economy, where we want to be accessible for everyone, and we're doing our best to ensure that our amazing culinary and incredible hospitality is there for all customers across the country."She added that some of Cava's best performing restaurants are in markets where median household incomes are lower.The restaurant chain
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