While Nvidia continued to drive the Nasdaq higher, the Dow undercut support. Hot IPO Cava fell late on earnings. Read More...
Cava Expected to Log Weaker Traffic but Healthier Spending in 1Q
After the market closes, Cava is expected to report lower 1Q year-over-year traffic but healthy gains in average ticket after prices increased 2.5% to 3% in January and customers started buying more premium bowls and bowl add-ons, William Blair analysts Sharon Zackfia and Matthew Curtis say in a research note. With Cava adding 22% more units during the quarter, total sales are expected to be up 20%, the analysts say.
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