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Revenue increased 62.4% year-over-year to $172.9 million, beating the consensus estimate of $163.19M, driven by 102 net new CAVA restaurant openings during or subsequent to Q2/22 and CAVA same-restaurant sales growth of 18.2%.
For the full 2023 year, the company expects net new CAVA restaurant openings in the range of 60 to 70 and CAVA same-restaurant sales growth of 13% to 15%.
