CAVA Group, Inc. ( (CAVA) ) has released its Q4 earnings. Here is a breakdown of the information CAVA Group, Inc. presented to its investors.
CAVA Group, Inc. is a leading Mediterranean fast-casual restaurant brand, known for its healthful and flavorful food offerings, operating within the limited-service restaurant sector and health and wellness food category.
CAVA Group, Inc. reported significant growth in its fiscal year 2024, with a revenue increase of 35.1% driven by a 13.4% rise in same restaurant sales. The company opened 58 new restaurants and achieved a restaurant-level profit margin of 25.0%.
Key financial highlights include a 33.1% increase in annual revenue to $954.3 million and a net income of $130.3 million. The company also reported a digital revenue mix of 36.4% and adjusted EBITDA of $126.2 million, showcasing strong operational performance and strategic expansion.
Looking ahead, CAVA Group anticipates continued growth with plans to open 62 to 66 new restaurants in fiscal 2025 and expects same restaurant sales growth between 6.0% to 8.0%, maintaining a profit margin around 25%.
CAVA Group remains optimistic about its future, focusing on expanding its restaurant footprint and enhancing customer engagement through innovative menu offerings and a reimagined loyalty program.