Cava jumps after raising annual sales forecast again on demand for steak, pita chips [Yahoo! Finance Canada]
Restaurant Brands International Inc. Common Shares (QSR)
Last restaurant brands international inc. common shares earnings: 5/1 06:30 am
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Source: Yahoo! Finance Canada
Cava has witnessed a 28.4% growth in traffic this year till September, while McDonald's and Restaurant Brands-owned Burger King saw customer visits decline 0.4% and 0.9%, respectively, according to data from Placer.ai. "Cava also continues to benefit from the consumer preference shift from quick service to fast casual as middle income consumers increasingly view fast casual as a better value for money," TD Cowen analyst Andrew Charles said in a note. The chain raised its annual forecasts for the third time in 2024 when it reported third-quarter results after market close on Tuesday. Its stock has more than tripled in value this year. The company's percentage of sales contribution from a revamped loyalty program jumped 200 basis points in the reported quarter. It has also invested in improving its in-restaurant channels, which make up roughly 65% of the total guest count. Its same-restaurant sales rose 18.1%, driven by a 12.9% increase from guest traffic and a 5.2% increase fr
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QSR
Earnings
- 11/6/24 - Miss
QSR
Sec Filings
- 11/12/24 - Form SC
- 11/5/24 - Form 10-Q
- 11/5/24 - Form 10-Q
- QSR's page on the SEC website