CAVA Group, Inc. is a fast-casual restaurant company specializing in Mediterranean cuisine. Headquartered in Washington, D.C., the company operates hundreds of restaurants across the United States and also sells consumer packaged goods such as dips, spreads, and dressings. CAVA focuses on offering customizable and chef-curated menu options that cater to health-conscious and diverse consumer preferences.
- CAVA Restaurants - Operates fast-casual restaurants offering Mediterranean-inspired dishes, including customizable bowls and pitas, across multiple states.
- Other (CPG Sales) - Produces and sells consumer packaged goods, such as dips, spreads, and dressings, available in grocery stores.
- Zoes Kitchen - Previously operated restaurants under this brand, which have now been fully converted into CAVA locations as of March 2023.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Brett Schulman ExecutiveBoard | Chief Executive Officer & President | None | Co-founded CAVA in 2010; has led the company to operate 300 restaurants across 24 states with over $700M in revenue. Previously COO of Snikiddy Snacks and VP at Deutsche Bank Alex. Brown. | View Report → |
Theodore Xenohristos ExecutiveBoard | Chief Concept Officer | None | Co-founded CAVA in 2010; provides expertise on culinary and brand matters. Previously co-founded CAVA Mezze in 2006. | |
Jennifer Somers Executive | Chief Operations Officer | None | Joined CAVA in November 2021; previously held leadership roles at Taco Bell, National Veterinary Associates, and Mattel. Holds a B.S. from Cornell University and an M.B.A. from Wharton. | |
Robert Bertram Executive | Chief Legal Officer & Secretary | None | Joined CAVA in September 2021; previously General Counsel at Ollie’s Bargain Outlet Holdings and corporate attorney at McNees Wallace & Nurick LLC. Holds a J.D. from Penn State Dickinson Law School. | |
Tricia Tolivar Executive | Chief Financial Officer | None | Joined CAVA in November 2020; previously CFO at GNC and held leadership roles at Ernst & Young and AutoZone. Holds a B.B.A. in Accounting from Emory University. | |
Benjamin Felt Board | Director | Managing Director at Invus; Board President of The Door | Extensive experience in private equity investing and corporate strategy; serves on boards of several private portfolio companies affiliated with Artal and Invus. | |
David Bosserman Board | Director | Senior Advisor at SWaN & Legend Advisors; Board Member at BigTeams | Served as Interim CFO at CAVA in 2020; extensive experience in accounting, auditing, and financial guidance. | |
James D. White Board | Director | Board Member at The Honest Company, Affirm Holdings, and Simply Good Foods | Former CEO of Jamba Juice; extensive experience as a public company director and executive. | |
Karen Kochevar Board | Director | Trustee of Brown Brothers Harriman U.S. mutual fund complex | Former CFO at Union Square Hospitality Group; extensive experience in financial planning, corporate development, and working with iconic restaurant brands. | |
Lauri Shanahan Board | Director | Board Member at Deckers Brands and Treasury Wine Estates; Principal of Maroon Peak Advisors | Former Partner and CFO at Union Square Hospitality Group; extensive public company leadership and governance experience in consumer goods and retail industries. | |
Philippe Amouyal Board | Director | Managing Director at The Invus Group; Board Member at Lexicon Pharmaceuticals | Extensive experience in management consulting and private equity investing; serves on boards of several private Artal and Invus portfolio companies. | |
Ronald Shaich Board | Chair of the Board | Managing Partner & CEO of Act III Holdings; Chair of Tatte Bakery, Life Alive Organic Café, and Level99; Trustee at Clark University | Founder and former CEO of Panera Bread; extensive experience in corporate governance and leadership in the restaurant industry. |
- With your planned net new restaurant unit growth of at least 17% in 2025, exceeding previous annual growth targets, what guardrails are in place to ensure this accelerated expansion doesn't compromise operational quality or overstrain your system, especially regarding the balance between new and existing markets?
- Despite higher AUVs and strong new restaurant performance, you've indicated that restaurant-level profit margins are expected to remain consistent in 2025; what factors are preventing further margin expansion, and how are you balancing investments in team members and guests with the potential for operational leverage and increased profitability?
- Given the significant traffic growth contributing to your 18.1% same-restaurant sales increase, how sustainable is this level of traffic growth as you begin to lap these strong results next year, and what strategies are you implementing to maintain or enhance traffic momentum?
- Could you elaborate on the impact of introducing premium menu items like steak on your food, beverage, and packaging costs, and how do you balance the trade-offs between offering higher-cost products to drive sales versus maintaining your margin targets?
- As you expand into new markets like South Florida and additional Midwest locations without significant incremental marketing spend, how are you ensuring strong brand awareness and customer acquisition to replicate the performance seen in established markets, and what specific strategies are you employing to manage potential challenges in greenfield markets?
Research analysts who have asked questions during CAVA GROUP earnings calls.
Andrew Charles
TD Cowen
6 questions for CAVA
David Tarantino
Robert W. Baird & Co.
6 questions for CAVA
Jeffrey Bernstein
Barclays
6 questions for CAVA
Brian Harbour
Morgan Stanley
5 questions for CAVA
Brian Mullan
Piper Sandler
5 questions for CAVA
Danilo Gargiulo
AllianceBernstein
5 questions for CAVA
Sharon Zackfia
William Blair & Company
5 questions for CAVA
Andrew Barish
Jefferies
4 questions for CAVA
Jon Tower
Citigroup
4 questions for CAVA
Sara Senatore
Bank of America
4 questions for CAVA
Brian Vaccaro
Raymond James Financial, Inc.
3 questions for CAVA
Dennis Geiger
UBS
3 questions for CAVA
Eric Gonzalez
KeyBanc Capital Markets
3 questions for CAVA
John Ivankoe
JPMorgan Chase & Co.
3 questions for CAVA
Brian Beccaro
Raymond James
2 questions for CAVA
Chris O'cull
Stifel Financial Corp
2 questions for CAVA
Chris O'Cull
Stifel
2 questions for CAVA
Christopher O'Cull
Stifel, Nicolaus & Company
2 questions for CAVA
Ivan Yu
Jefferies
2 questions for CAVA
Jacob Aiken-Phillips
Melius Research
2 questions for CAVA
John Ivanko
JPMorgan
2 questions for CAVA
Logan Reich
RBC Capital Markets
2 questions for CAVA
Nick Setyan
Wedbush Securities
2 questions for CAVA
John Powers
Citi
1 question for CAVA
Matthew Curtis
William Blair & Company
1 question for CAVA
Rahul Krotthapalli
JPMorgan Chase & Co.
1 question for CAVA
Recent press releases and 8-K filings for CAVA.
- Cava Group has lowered its 2025 same-store sales growth forecast to 3% to 4% from an earlier estimate of 4% to 6%, citing economic pressures on younger consumers aged 25 to 35.
- The company's third-quarter revenue of $289.8 million and earnings per share of 12 cents both missed Wall Street expectations, contributing to a nearly 10% drop in after-hours stock trading.
- Despite these headwinds, Cava is gaining market share by maintaining a strong value proposition, having increased menu prices by only 17% since 2019, significantly less than its peers.
- Cava is also enhancing its offerings and operations through new menu items like Chicken Shawarma, an upgraded rewards program, and the implementation of new kitchen technology such as a kitchen display system (KDS) and TurboChef ovens.
- CAVA Group Inc. reported Q3 2025 revenue of $289.8 million, a 20% year-over-year increase, with a restaurant-level profit margin of 24.6% and Adjusted EBITDA of $40 million, up 19.6% from Q3 2024.
- Same restaurant sales grew 1.9% in Q3 2025, and the company expanded its footprint by 17 net new restaurants, reaching a total of 415 locations.
- The company updated its full-year 2025 guidance, projecting 68-70 net new restaurant openings, 3%-4% same restaurant sales growth, and Adjusted EBITDA between $148 million and $152 million.
- Management acknowledged moderation in trends due to broader macroeconomic pressures, particularly impacting younger consumers, but highlighted continued market share gains and a strong value proposition.
- CAVA Group Inc. reported Q3 2025 revenue of $289.8 million, a 20% increase year-over-year, with same restaurant sales growth of 1.9% and a restaurant-level profit margin of 24.6%.
- The company added 17 net new restaurants in Q3, reaching 415 total locations, and achieved Adjusted EBITDA of $40 million, up 19.6% from Q3 2024.
- For the full year 2025, CAVA updated its outlook, projecting 68-70 net new restaurant openings, same restaurant sales growth of 3%-4%, and Adjusted EBITDA between $148 million and $152 million.
- Management noted a moderation in trends reflecting broader macroeconomic pressures and strong prior-year comparisons, but remains confident in long-term structural health, anticipating at least 16% unit count growth in 2026 and very modest price increases.
- CAVA reported Q3 2025 revenue of $289.8 million, marking a 20.0% increase compared to Q3 2024.
- Same Restaurant Sales Growth (SRS%) was 1.9% for Q3 2025, with a CAVA Restaurant Level Profit Margin of 24.6%.
- The company achieved Total Company Adjusted EBITDA of $40.0 million and Total Company Net Income of $14.7 million in Q3 2025.
- CAVA opened 17 net new restaurants during Q3 2025, increasing the total restaurant count to 415.
- CAVA updated its fiscal year 2025 guidance, revising CAVA Same Restaurant Sales Growth to 3.0% - 4.0% (from 4.0% - 6.0%), CAVA Restaurant Level Profit Margin to 24.4% - 24.8% (from 24.8% - 25.2%), and Adjusted EBITDA to $148.0 million - $152.0 million (from $152.0 million - $159.0 million).
- CAVA reported Q3 2025 revenue of $289.8 million, a 20% increase year-over-year, with 1.9% same restaurant sales growth and a 24.6% restaurant-level profit margin.
- The company opened 17 net new restaurants in Q3, bringing the total to 415 locations, and achieved $40 million in Adjusted EBITDA, a 19.6% increase over Q3 2024. Net income was $14.7 million, with diluted EPS of 12 cents.
- For the full year 2025, CAVA updated its outlook, projecting 68-70 net new restaurant openings, 3%-4% same restaurant sales growth, and Adjusted EBITDA between $148 million and $152 million.
- Management noted a moderation in trends reflecting broader macroeconomic pressures, particularly impacting younger guests, but highlighted the resilience of the brand and strong performance of new product launches like Chicken Shawarma.
- CAVA Group reported revenue of $289.8 million for the third quarter of fiscal 2025, representing a 20.0% increase compared to the prior year quarter, with CAVA Same Restaurant Sales Growth of 1.9%.
- The company opened 17 net new CAVA restaurants during Q3 2025, bringing the total number of CAVA Restaurants to 415.
- CAVA Restaurant-Level Profit Margin was 24.6%, and Adjusted EBITDA increased by 19.6% to $40.0 million for the third quarter of fiscal 2025.
- CAVA Group updated its fiscal full-year 2025 guidance, lowering the outlook for CAVA Same Restaurant Sales Growth to 3.0% to 4.0% (from 4.0% to 6.0%) and Adjusted EBITDA to $148.0 million to $152.0 million (from $152.0 million to $159.0 million).
- CAVA Group reported Q3 2025 revenue of $289.8 million, a 20.0% increase year-over-year, with 17 net new restaurant openings bringing the total to 415.
- For Q3 2025, CAVA Same Restaurant Sales Growth was 1.9% and CAVA Restaurant-Level Profit Margin was 24.6%.
- Net income for Q3 2025 was $14.7 million, and Adjusted EBITDA was $40.0 million.
- The company updated its fiscal full-year 2025 guidance, revising CAVA Same Restaurant Sales Growth to 3.0% to 4.0% (from 4.0% to 6.0%) and Adjusted EBITDA to $148.0 million to $152.0 million (from $152.0 million to $159.0 million).
- CAVA Group reported Q2 2025 revenue of $278.2 million, a 20.3% increase year-over-year, and adjusted EBITDA of $42.1 million, up 22.6%. Net income for the quarter was $18.4 million, with diluted EPS at $0.16.
- Same restaurant sales grew 2.1% in Q2 2025, experiencing a deceleration in June attributed to lapping the prior year's steak launch and a "honeymoon effect" from high-performing new restaurants, but reaccelerated exiting Q2 and into Q3.
- The company opened 16 net new restaurants in Q2 2025, bringing the total to 398 locations, and the 2025 new restaurant class is exceeding expectations with average unit volumes trending above $3 million. For full-year 2025, CAVA expects 68 to 70 net new restaurant openings, same restaurant sales growth of 4% to 6%, and adjusted EBITDA between $152 million and $159 million.
- CAVA has opened its first restaurant in Pittsburgh, located at 3619 Forbes Avenue, with plans to open a second Pittsburgh location later this year.
- The company is on track to reach 1,000 restaurants by 2032, having opened 58 net new restaurants in Fiscal Year 2024 and expecting at least 17% growth in 2025.
- CAVA opened its first restaurant in Michigan on July 20, 2025, located in Canton, marking its entry into the 28th state.
- The company aims to reach 1,000 restaurants by 2032, having opened 58 net new restaurants in Fiscal Year 2024 and expecting at least 17% growth in 2025.