Why analysts are calling Cava the next Chipotle [CNBC]
Chipotle Mexican Grill, Inc. (CMG)
Last chipotle mexican grill, inc. earnings: 4/21 04:10 pm
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ir.chipotle.com
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Source: CNBC
report, repeatedly beat Wall Street's earnings estimates and now boasts a more than $14 billion market cap, nearly 500% higher than its initial valuation. Now, Wall Street analysts see shades of another fast-casual success story Chipotle Mexican Grill In its most recent results for the second quarter of 2024, Cava bucked industry trends by posting same-store sales growth of 14.4% and traffic growth of 9.5%. Revenue rose by 35.2% from the same quarter the year prior. “Cava seems to have found a magic formula,” said Wedbush Securities restaurant analyst Nick Setyan. Cava shares closed at $127.12 on Thursday and are up 211% this year. One area where Cava may have gained an edge is pricing: it raised prices by in January and has none planned for the rest of 2024. Cava Group co-founder and CEO Brett Schulman has said its prices increased 15% between 2019 and 2024. Other restaurant chains like McDonald's have seen prices rise by nearly 40% since 2019 during a period of high inflat
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News
- Why analysts are calling Cava the next Chipotle [MSNBC.com]MSNBC.com
- Chipotle Mexican Grill (CMG) Stock Dips While Market Gains: Key Facts [Yahoo! Finance]Yahoo! Finance
- Why Developing Original Brand IP Beats Buying A $7M Super Bowl Ad [Forbes]Forbes
- gusto! to open new restaurant in Atlanta, US [Yahoo! Finance]Yahoo! Finance
- Wings and Rings introduces autumn-inspired menu items for 2024 season [Yahoo! Finance]Yahoo! Finance
CMG
Earnings
- 7/24/24 - Beat
CMG
Sec Filings
- 9/25/24 - Form 144/A
- 9/23/24 - Form 144
- 9/19/24 - Form 144
- CMG's page on the SEC website