Washington, D.C. – CAVA Group, Inc. held its Q1 2024 Earnings Conference Call on May 28th, 2024. During the call, company executives discussed the financial results for the first quarter of 2024, highlighting key achievements and outlining strategic plans for future growth.

Matt Milanovich, Head of Investor Relations, along with Co-Founder and CEO Brett Schulman, and CFO Tricia Tolivar, were among the key participants in the conference call. Various industry analysts and investors participated in the call, engaging in discussions regarding CAVA Group’s performance and future prospects.

CAVA Group showcased strong performance in its first quarter, demonstrating growth in revenue, same-restaurant sales, and net income. The company reported a 30.3% increase in revenue, with same-restaurant sales growing by 2.3% and 30.7% on a two-year basis. Additionally, CAVA Group saw a positive free cash flow for the first time in its history.

One of the highlights of the call was the successful launch of a new grilled steak offering across the chain. The culinary team at CAVA has been working on this new menu item for two years, focusing on flavor, quality, and differentiation. The introduction of grilled steak complements the existing menu, aiming to attract and satisfy customers looking for a unique dining experience.

Furthermore, CAVA Group discussed its strategic pillars for driving sustainable long-term results. These pillars include expanding the Mediterranean concept in communities across the country, cultivating personal relationships with guests, ensuring operational excellence in every location, and fostering a high-performing team environment.

Overall, CAVA Group expressed confidence in its growth strategy, emphasizing the importance of value proposition, quality, and customer experience in driving traffic and maintaining competitiveness in the market. The company’s strong financial performance in the first quarter and strategic initiatives position it well for continued success and expansion in the future.