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Stock impact report

Mediterranean restaurant chain Cava lifts annual sales growth forecast, shares jump [Yahoo! Finance Canada]

McDonald's Corporation (MCD) 
Last mcdonald's corporation earnings: 4/30 06:58 am Check Earnings Report
that demand for its pita wraps and salad bowls was holding up well even as the wider restaurant industry grapples with a consumer spending slowdown. Shares of the Mediterranean restaurant chain, which made its market debut in June last year, rose 13.1% after the bell. The stock has more than tripled in value so far this year. Cava now expects 2024 same-restaurant sales growth of 12% to 13%, up from previous expectations of 8.5% to 9.5%. The fast-casual chain also exceeded third-quarter sales estimates. The company's Mediterranean offerings coupled with its cautious approach to raising menu prices have been attracting younger crowds to its restaurants, even as fast-food chains such as McDonald's and Burger King have been embroiled in value wars to attract demand. The company also completed a re-launch of its loyalty program in the reported quarter. "We've seen great growth in brand awareness in Gen-Z and even Gen Alpha customer segments, given some of the momentum we have on Show less Read more
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