Company: CAVA
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001628280-25-026077
Chunk: 42

Company: CAVA GROUP, INC.
Filing Date: 2025-05-16
Form: 10-Q
Item: Item 2
Chunk 42
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 Sales Growth for the sixteen weeks ended April 21, 2024.  Had this shift not been made, CAVA Same Restaurant Sales Growth would have been 4.3% in the sixteen weeks ended April 21, 2024.

2    Presented on a trailing thirteen period basis. For purposes of calculating CAVA AUV for the reporting period ended April 20, 2025, the applicable measurement period is the trailing thirteen periods ended April 20, 2025. For the reporting period ended April 21, 2024, the applicable measurement period is the trailing thirteen periods ended April 21, 2024, excluding the 53rd week of fiscal 2023.

3    See “Non-GAAP Financial Measures” below for a discussion of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted Net Income margin and reconciliations of Adjusted EBITDA and Adjusted Net Income to net income, the most directly comparable GAAP measure. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of revenue. Adjusted Net Income margin is Adjusted Net Income as a percentage of revenue.

CAVA Restaurants and Net New CAVA Restaurant Openings

The following table details CAVA Restaurant unit data:

Sixteen Weeks EndedApril 20,2025April 21,2024CAVA RestaurantsBeginning of period367 309New CAVA Restaurant openings15 15Permanent closure— (1)End of period382 323 

Results of Operations

Our results of operations, on a consolidated basis and by segment, for the sixteen weeks ended April 20, 2025 and April 21, 2024, are set forth below. We present our segment results before our consolidated results as we believe that our CAVA segment is more useful and meaningful in assessing the performance of our business, which is mainly driven by our CAVA segment.

15

Comparison of the sixteen weeks ended April 20, 2025 and April 21, 2024

CAVA Segment Results

The following table summarizes the results of the CAVA segment:

Sixteen Weeks EndedApril 20,2025April 21,2024Change(in thousands)$% of Revenue$% of Revenue$%Revenue$328,482 100.0 %$256,290 100.0 %$72,192 28.2 %Restaurant operating expenses (excluding depreciation and amortization)Food, beverage