, a growing number of restaurant chains have been losing favor among customers and struggling with significant sales declines in 2024. However, a booming chain that some have dubbed aCava, a fast-casual Mediterranean brand that specializes in customizable grain bowls, salads, and pita wraps, is currently a mecca for those looking to eat a crunchy, healthful lunch. The foot traffic platform Placer.ai took an in-depth look at Cava's performance in a newAccording to Placer.
"We've built a strong foundation to support that growth, and our powerful unit economic engine continues to drive us forward," CEO Brett Schulman said during a Feb. 27 New Cava restaurants have also proven to be extremely lucrative. During the earnings call, CFO Tricia Tolivar said that average unit volumes and profit margins at new Cava stores have been"exceeding our expectations." Overall, the company grew its revenues by 52.5% in 2023 and saw an impressive 17.9% increase in same-store sales."CAVA continues to get stronger with every new restaurant we open and every new guest we welcome to our table," Tolivar said.
In other Cava news, the chain recently entered the upper Midwest for the first time with the opening of awhere customers could submit their go-to custom bowls for a chance to win store credit and see their creations featured on the menu. Cava added three winning bowls from the contest to its menu on May 20, and they'll remain available through June 2.
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