Fast-casual Mediterranean chain Cava has had an impressive year since going public in June 2023. It posted a profit in its first quarterly report, repeatedly beat Wall Street’s earnings estimates and now boasts a more than $14 billion market cap, nearly 500% higher than its initial valuation. Now, Wall Street analysts see shades of another … Read more
My top 10 things to watch Friday, Sept. 13 1. The S & P 500 is trying close out the second week of September trading with its fifth straight positive session. What a difference a week makes. The index has now erased almost all of last week’s bruising losses. At our September Monthly Meeting for … Read more
Customers arrive at a Cava restaurant in New York City on June 22, 2023. Brendan Mcdermid | Reuters Cava on Thursday raised its full-year outlook as its restaurants reported strong traffic, fueling better-than-expected quarterly earnings and revenue. Shares of the company rose 7% in extended trading. The stock has more than doubled its value this … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets drop: Wall Street struggled to hold onto its early gains and moved lower. We’re not surprised to see the market take a breather after its … Read more
Bloomberg | Bloomberg | Getty Images Bennington, population 15,000, is known for its fall foliage, lush Green Mountain backdrop, and laid-back Vermont vibe. There’s no major university here (Bennington College has over 700 undergraduates and calls its namesake town home) and the nearest interstate highway is 40 miles away. But none of that deterred Chipotle, long … Read more
The drive-thru menu at a McDonald’s restaurant showing various meal options and promotions, in Buttonwillow in Kern County, California, on 23, 2024. Smith Collection | Gado | Archive Photos | Getty Images Searching for ways to lower labor costs, restaurants are hoping that artificial intelligence can take down drive-thru orders — but it will likely … Read more
A food delivery messenger carries a take-out bag outside a Sweetgreen in Manhattan, New York City, on Sept. 14, 2023. Jeenah Moon | The Washington Post | Getty Images High-income consumers helped Chipotle Mexican Grill, Wingstop and Sweetgreen report strong sales this quarter, bucking the broader consumer slowdown that’s been hurting other eateries. As a … Read more
A food delivery messenger carries a take out bag outside aSweetgreen in Manhattan on September 14, 2023. Jeenah Moon | The Washington Post | Getty Images A highly popular group of weight loss and diabetes drugs is decreasing some consumers’ appetites — and also how much they spend on food. Most people taking those medications, … Read more
The new restaurant in your neighborhood may look familiar. Chains owned by publicly traded restaurant companies accounted for half of the top 10 fastest-growing retail brands in the U.S. last year, according to a new Yelp report. Review site Yelp compiled the list by using a blended metric that includes net new openings, searches on … Read more
A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City. Spencer Platt | Getty Images Cava’s stock rose 7% on Tuesday morning after the Mediterranean restaurant chain released its earnings report a day early. … Read more
