Cava boosts Outlook and demonstrates Fast Casual’s enduring appeal

Cava Group Inc. raised its full-year outlook for the third quarter in a row and had quarterly sales that beat market expectations, the latest example of a fast-casual company winning over diners while the rest of the industry struggles.

The Mediterranean fast-casual chain now sees sales at restaurants open at least a year rising as much as 13% in 2024, up from previous guidance of a whopping 9.5%. The company has consistently raised its projections this year as quarterly results come in ahead of Wall Street estimates.