Company: CAVA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001639438-25-000007
Chunk: 41

Company: CAVA GROUP, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 41
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3-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which improves income tax disclosures through enhanced disaggregation within the rate reconciliation table and disaggregation of income taxes paid by jurisdiction. The amendment is effective for fiscal years beginning after December 15, 2024 (the Company’s fiscal 2025) and early adoption is permitted. The amendment should be applied on a prospective basis; however, retrospective application is permitted. The Company is currently evaluating the impact of adopting this ASU on its disclosures; however, we do not anticipate a significant impact to our financial statement disclosures.In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (Subtopic 220-40), which requires disaggregation, in tabular presentation, of certain income statement expenses into different categories, such as purchases of inventory, employee compensation, and depreciation. The FASB issued an update in January 2025, ASU 2025-01, which clarifies the effective date of ASU 2024-03. The amendment is effective for fiscal years beginning after December 15, 2026 (the Company’s fiscal 2027), with early adoption permitted, and may be applied on a retrospective basis. The Company is currently evaluating the impact of adopting this ASU on its financial statements and disclosures.

The Company reviewed all other recently issued accounting standards and determined they were either not applicable or not expected to have a material impact on the Company’s financial position or results from operations. 

2.    REVENUE

The Company’s revenue was as follows:Twelve Weeks EndedTwenty-Eight Weeks Ended(in thousands)July 13,2025July 14,2024July 13,2025July 14,2024Restaurant revenue$278,249 $231,384 $606,731 $487,674 CPG revenue and other2,366 2,111 5,710 4,827 Revenue$280,615 $233,495 $612,441 $492,501 Revenue from the redemption of the Company’s gift cards and loyalty program is included in restaurant revenue. Revenue recognized from the redemption of gift cards, included in the gift card liability at the beginning of the year, was 

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$0.5 million and $0.4 million during the twelve weeks ended July 13, 2025 and July 14, 2024