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Cava Group In The Sweet Spot? CEO Sees Consumers Trading Down From Casual Dining, Trading Up From Fast Food: 'We Don't Think It's An Either Or'
CAVA Group Inc (NYSE:CAVA) turned in better-than-expected earnings results for the first quarter late Tuesday. Following the print, co-founder and CEO Brett Schulman attributed much of the success to Cava having found a sweet spot.
What To Know: Wednesday on CNBC’s “Money Movers,” Schulman explained the company is seeing demand above industry averages partly due to its differentiated offering of Mediterranean cuisine becoming increasingly appealing, but also because the company offers a unique combination of convenience and experience.
“We are seeing folks trade down both from casual dining and trading up from traditional fast food for that great value proposition that we are able to deliver,” the Cava Group CEO said.
Cava is focused on quality and relevance alongside convenience and experience, which helps set it apart from other dining options, Schulman said, adding ...