Company: CAVA
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001628280-25-026077
Chunk: 20

Company: CAVA GROUP, INC.
Filing Date: 2025-05-16
Form: 10-Q
Item: Item 1
Chunk 20
---
 about the Company’s reportable segment and includes reconciliations of CAVA segment revenue and restaurant-level profit to the Company’s consolidated revenue and income before taxes for the periods indicated: Sixteen Weeks Ended(in thousands)April 20,2025April 21,2024Reportable segment revenueCAVA$328,482 $256,290 Reconciliation of reportable segment revenue to consolidated revenue:Other revenue3,344 2,716 Total consolidated revenue331,826 259,006 Significant segment expensesCAVAFood, beverage, and packaging96,224 72,195 Labor84,562 66,513 Occupancy24,408 20,422 Other operating expenses140,983 32,544 Total CAVA segment expenses246,177 191,674 Reportable segment restaurant-level profitCAVA82,305 64,616 Reconciliation of total reportable segment restaurant-level profit to income before income taxes:Other non-reportable segment profit(1,758)(750)General and administrative expenses41,394 33,840 Depreciation and amortization20,811 17,322 Restructuring and other costs— 282 Pre-opening costs4,481 3,379 Impairment and asset disposal costs1,667 1,290 Interest income, net(4,617)(4,914)Other income, net(27)(78)Income before taxes$20,354 $14,245 __________________1    Other operating expenses, a significant segment expense, includes all other restaurant-level operating expenses, such as kitchen supplies, utilities, repairs and maintenance, travel costs, credit card and bank fees, recruiting, third-party delivery service fees, and marketing expenses.

13

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited interim condensed consolidated financial statements and the related notes included elsewhere in this Form 10-Q, and our Annual Report on Form 10-K for the year ended December 29, 2024 (our “2024 Annual Report”). In addition to historical information, this discussion and analysis contains forward-looking statements based on current expectations that involve risks, uncertainties, and other factors outside the Company’s control, as well as assumptions, such as our plans, objectives, expectations, and intentions. Our actual results may differ materially from those expressed or implied