CAVA Group (CAVA) delivered another year of impressive growth in fiscal 2024, demonstrating strong momentum in the Mediterranean fast-casual sector. The company reported a 35.1% increase in revenue (excluding the impact of an extra week in fiscal 2023), fueled by a 13.4% same-restaurant sales increase and 58 net new restaurant openings.<\/p>\n\n\n\n
Strong Financial Performance and Expansion<\/strong><\/p>\n\n\n\n CAVA\u2019s total revenue reached $954.3 million in fiscal 2024, marking a 33.1% rise from the previous year. Same-restaurant sales grew by 13.4%, primarily driven by an 8.7% increase in guest traffic and a 4.7% boost from menu pricing and product mix. The company\u2019s expansion efforts resulted in 58 net new restaurant openings, increasing its total count to 367 locations by year-end.<\/p>\n\n\n\n \u201cOur performance in 2024 reinforces CAVA\u2019s position as the leading Mediterranean fast-casual brand,\u201d said Brett Schulman, Co-Founder and CEO. \u201cWe continued to innovate with new menu offerings like grilled steak, implemented operational efficiencies, and strengthened customer engagement through our reimagined loyalty program. These efforts contributed to sustained traffic growth and higher unit profitability.\u201d<\/p>\n\n\n\n Profitability and Operational Efficiency<\/strong><\/p>\n\n\n\n CAVA\u2019s restaurant-level profit reached $238.1 million, reflecting a 34.2% increase compared to the prior year. The restaurant-level profit margin stood at 25.0%, benefiting from strong sales leverage despite rising food, beverage, and labor costs.<\/p>\n\n\n\n The company\u2019s digital engagement also remained robust, with digital revenue accounting for 36.4% of total sales. CAVA\u2019s focus on convenience through app-based ordering and delivery partnerships helped maintain strong customer retention.<\/p>\n\n\n\n Fourth-Quarter Performance Highlights<\/strong><\/p>\n\n\n\n In the fourth quarter, CAVA\u2019s revenue grew 28.3% year-over-year to $225.1 million. Same-restaurant sales surged 21.2%, with 15.6% stemming from higher guest traffic. The company added 15 new restaurants during the quarter, contributing to an 18.8% year-over-year increase in total locations.<\/p>\n\n\n\n CAVA Group reported a net income of $130.3 million for fiscal 2024, a significant jump from $13.3 million in the prior year. Adjusted EBITDA also saw a 71% increase to $126.2 million, reflecting the company\u2019s strong operational execution and financial discipline.<\/p>\n\n\n\n