Latest News

Cava shares surge as Mediterranean restaurant chain swings to a profit in first report since IPO


In this article

A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City.
Spencer Platt | Getty Images


Here’s what the company reported for the quarter ended July 9:

Earnings per share: 21 centsRevenue: $172.9 million

The Mediterranean restaurant company reported second-quarter net income of $6.5 million, or 21 cents per share, swinging from a net loss of $8.2 million, or $6.23 per share, a year earlier.

Net sales soared 62% to $172.9 million, fueled by new restaurant openings. Wall Street analysts surveyed by Refinitiv were expecting the company to report revenue of $163 million.

This story is developing. Please check back for updates.

A.I. startup founder charged with defrauding investors, manipulating documents

Previous article

Warren Buffett Bought 3 New Stocks — The ITB ETF Owns Them All

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News