Cava Lifts Full-Year Same-Store Sales Outlook

The Tip Desk · November 5, 2026 · 3 min read

Same Restaurant Sales rose 3.1% in the fiscal third quarter as CAVA revenue reached $353.7 million and the company opened its 500th restaurant.

CAVA Group (CAVA), the Mediterranean fast-casual restaurant brand, reported CAVA revenue of $353.7 million for the fiscal third quarter ended October 4, 2026, up 22.1% from $289.8 million a year earlier.

Year-over-year CAVA revenue growth slowed from 31.3% in the second quarter and 32.2% in the first. The company said the increase was driven primarily by 102 net new CAVA restaurant openings during or subsequent to the third quarter of fiscal 2025, which it said are exceeding performance expectations, and by Same Restaurant Sales of 3.1%.

Same Restaurant Sales fell from 9.0% in the second quarter and 9.7% in the first. The company said Cyclospora and broader concerns around fresh-produce consumption cut Same Restaurant Sales by about 150 basis points. Menu price and product mix contributed 3.0%, with slightly positive Guest Traffic.

Net new CAVA restaurant openings were 24 in the quarter, bringing the fleet to 500, a 20.5% increase from a year earlier. Average unit volume was $3.1 million. Digital revenue mix was 38.5%.

CAVA Restaurant-Level Profit was $82.7 million, up 16.2% from a year earlier. The restaurant-level profit margin was 23.4%, down 120 basis points from the third quarter of fiscal 2025. The company attributed the margin decline to incremental labor investments, a higher mix of third-party delivery, and investments in repairs and maintenance, partially offset by leverage from higher Same Restaurant Sales. It said third-party delivery is dilutive to margin rate but has a positive impact on margin dollars due to a higher guest price.

Adjusted EBITDA was $42.3 million, or 11.9% of revenue, up 5.7% from a year earlier. Net income was $13.2 million, compared with $14.7 million in the third quarter of fiscal 2025. The company said the decrease in net income was primarily due to higher depreciation and amortization, including capital investments to enhance the guest and team member experience, and higher equity-based compensation, partially offset by improved operating performance. Diluted earnings were $0.11 a share.

General and administrative expenses were $38.1 million, or 10.7% of revenue. Excluding equity-based compensation and executive transition costs, those expenses were $33.6 million, or 9.4% of revenue, which the company said remained flat as a percentage of revenue primarily due to leverage from higher sales, offset by investments to support future growth.

On November 4, 2026, CAVA Group updated fiscal full-year 2026 guidance. Same Restaurant Sales guidance was raised to 6.0% to 7.0% from 4.5% to 6.5%. Net new CAVA restaurant openings were raised to 76 to 78 from 75 to 77. CAVA Restaurant-Level Profit Margin guidance was narrowed to 23.7% to 24.0% from 23.7% to 24.3%. Pre-opening costs were raised to $28.5 million to $29.5 million from $22.0 million to $22.5 million. Adjusted EBITDA guidance was raised to $184.0 million to $189.0 million from $181.0 million to $191.0 million.

Co-Founder and Chief Executive Officer Brett Schulman said that, despite broader industry pressures, the company continued to gain market share, expand its footprint, and see strong performance from new restaurants. He said CAVA opened its 500th restaurant ahead of schedule and that the company will continue investing in teams and guests.