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
4 questions for CAVA
David Tarantino
Robert W. Baird & Co.
4 questions for CAVA
Brian Harbour
Morgan Stanley
3 questions for CAVA
Brian Mullan
Piper Sandler
3 questions for CAVA
Brian Vaccaro
Raymond James Financial, Inc.
3 questions for CAVA
Danilo Gargiulo
AllianceBernstein
3 questions for CAVA
Jeffrey Bernstein
Barclays
3 questions for CAVA
John Ivankoe
JPMorgan Chase & Co.
3 questions for CAVA
Sharon Zackfia
William Blair & Company
3 questions for CAVA
Chris O'cull
Stifel Financial Corp
2 questions for CAVA
Christopher O'Cull
Stifel, Nicolaus & Company
2 questions for CAVA
Ivan Yu
Jefferies
2 questions for CAVA
Jon Tower
Citigroup
2 questions for CAVA
Sara Senatore
Bank of America
2 questions for CAVA
Andrew Barish
Jefferies
1 question for CAVA
Andy Barish
Jefferies
1 question for CAVA
Dennis Geiger
UBS
1 question for CAVA
Eric Gonzalez
KeyBanc Capital Markets
1 question for CAVA
Jeff Bernstein
Barclays
1 question 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 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.
- CAVA delivered $328.5M in revenue, up 28.2% YoY, with 10.8% same restaurant sales growth despite challenging conditions .
- Strong operational performance was achieved with adjusted EBITDA of $44.9M (up 34.6% YoY), $25.7M in net income, and a 25.1% restaurant-level profit margin .
- Expanded to 382 locations with 15 net new restaurant openings, reinforcing its footprint in key markets like Indiana and Miami .
- Updated guidance forecasts the addition of 64–68 net new restaurants, 6.0%–8.0% same restaurant sales growth, and $152M–$159M in adjusted EBITDA, complemented by $2.7M in free cash flow .
- Additional highlights include a 7.5% traffic increase and robust liquidity with 0 debt, $369.4M in cash and investments, plus access to a $75M revolver .