Cava falls after cutting FY same store sales forecast
Shares of restaurant chain Cava Group CAVA.N fall 8.9% to $47.1 premarket
CAVA cuts annual same-store sales growth forecast for second time this year; now expects it to rise between 3% and 4%, up from prior range of 4% to 6%
Q3 revenue of $289.8 mln misses analysts' estimates; reports adj. EPS of 12 cents
"In the current quarter, there's about a 20-basis-point impact related to tariffs, largely for our imported beef that we've served to our guests every day," Cava CFO Tricia Tolivar says
At least five brokerages cut PT on stock post results
"In the near term, CAVA is disadvantaged by an outsized Gen Z customer base where restaurant spending is struggling," TD Cowen analysts say in note
14 of 23 brokerages rate stock "buy" or higher, nine "hold"; their median PT is $72- LSEG data
Up to last close, stock has more than halved in value in 2025
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