Cava hit 500 restaurants ahead of schedule. Its CFO explains how it plans double in size by 2032
Source: Fortune ·
Cava's CFO Tricia Tolivar on reaching the halfway mark to 1,000 restaurants early.
From the source
Good morning. Cava has reached 500 restaurants ahead of schedule, putting it halfway toward its goal of at least 1,000 locations by 2032. But for CFO Tricia Tolivar, the bigger challenge is ensuring the Mediterranean fast-casual chain can sustain its performance as it doubles in size. The early results are encouraging. Cava’s newest restaurants are operating at roughly 100% productivity, Tolivar told me, suggesting the company has room to expand into new markets without sacrificing sales performance. “Even more encouraging is the strength of those new restaurant openings,” she said. Still, Cava’s rapid expansion comes as consumers face mounting financial pressure. The company reported Wednesday that third-quarter Cava segment revenue rose 22.1% year over year to $353.7 million, while same-restaurant sales increased 3.1%, with guest traffic slightly positive. Consolidated revenue totaled $356.4 million, short of analysts’ estimate of about $358.4 million. Tolivar attributed about 150…
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