Consumer
Cava Lifts Outlook as Diners Shell Out for Extra Pita Chips
- The chain is betting guests will pay more for new steak option
- Fast-casual company latest to outperform despite inflation
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Cava Group Inc. lifted its annual sales outlook as it prepares a new steak offering and diners load up on extra sides of pita chips. While results outpaced expectations, the Mediterranean eatery reported a decline in customer traffic in the first quarter.
The shares, which gained 92% this year through Tuesday’s close, slipped 5.4% at 4:33 p.m. in extended New York trading.