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Cava CEO Brett Schulman on Q1 earnings beat
  + stars: | 2024-05-29 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCava CEO Brett Schulman on Q1 earnings beatCava CEO Brett Schulman joins 'Squawk on the Street' to discuss the company's quarterly earnings results, what the post-pandemic economy has done for Cava, and more.
Persons: Brett Schulman Organizations: Cava Locations: Cava
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCava CEO on Q4 results: An example of the power of our 'category-defining' brandBrett Schulman, Cava CEO, joins 'Money Movers' to discuss what is driving the company's quarterly earnings results, the pace of same store sales growth slowing, and how the company's expansion plans have gone.
Persons: Brett Schulman, Cava
Panera Bread founder Ron Shaich led a public company for more than two decades, but that doesn't mean he's a fan of initial public offerings or Wall Street. Ironically, Panera Bread is mulling an IPO, but Shaich, who is no longer involved with the chain, directs his advice toward founders. Even as Au Bon Pain bought St. Louis Bread Company, renamed it Panera Bread and then shed Au Bon Pain to focus on Panera's growth, Shaich's company was publicly traded. "The reality is for 90% of the CEOs that take a company public, they live to regret it," Shaich told CNBC. "Cava is a company that will succeed as a public company.
Persons: Ron Shaich, Shaich, Cookie, Bon Pain, Louis, Cava, Brett Schulman, Sweetgreen hasn't, Panera, Danny Meyer's Organizations: III Holdings, Louis Bread Company, CNBC, Wall Street Locations: Cava
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCava CEO on cautious H2 outlook: Mindful of headwinds facing the consumerCava CEO Brett Schulman joins 'Squawk on the Street' to discuss what drove the company's strong quarterly earnings results, why he is more cautious about the second half, and more.
Persons: Brett Schulman
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. The Mediterranean restaurant company has a market value of $5.27 billion, as of Tuesday's close. However, Tolivar also said that same-store sales growth has moderated in recent weeks. Cava's menu prices were up nearly 8% compared with the year-ago period, though executives said the restaurant chain has no plans to raise prices further. Looking ahead to 2023, Cava expects to report same-store sales growth for the full year of between 13% and 15%.
Persons: Cava, Tricia Tolivar, Tolivar, Sweetgreen, Brett Schulman Organizations: New York Stock Exchange, CNBC Locations: Cava, New York City
Cava CEO Brett Schulman on IPO offering, road to profitability
  + stars: | 2023-06-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCava CEO Brett Schulman on IPO offering, road to profitabilityCava CEO Brett Schulman joins 'Squawk on the Street' to discuss the restaurant chain's IPO offering at the New York Stock Exchange, profitability timeline, the appeal of Mediterranean cuisine, and more.
Persons: Brett Schulman Organizations: Cava, New York Stock Exchange
June 15 (Reuters) - Mediterranean restaurant chain Cava Group (CAVA.N) notched a valuation of $4.7 billion in a stellar market debut on Thursday, signaling the IPO market was gaining momentum after a lull in 2022. Shares opened at $42 apiece on the NYSE, nearly double the IPO price of $22, last up 89%. Cava sold about 14.4 million shares in the offering, raising $318 million. “We think the markets are always welcoming long-term sustainable growth stories, especially category defining brands, as we try and define the Mediterranean category,” Cava Co-founder and CEO Brett Schulman said. Cava was founded by three friends with Greek roots — Ted Xenohristos, Ike Grigoropoulos and Dimitri Moshovitis — and opened its first restaurant Cava Mezze in Rockville in 2006.
Persons: Cava, Matthew Kennedy, Johnson, Brett Schulman, Ted Xenohristos, Ike Grigoropoulos, Dimitri Moshovitis —, Morgan, Jefferies, Manya Saini, Savyata Mishra, Echo Wang, Vinay Dwivedi Organizations: NYSE, Renaissance Capital, Reuters, Rivian, , Restaurant Brands, Cava, Citigroup, Thomson Locations: Cava, CAVA, United States, ” Cava, Rockville, Bengaluru, Echo, New York
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. The stock trades on the New York Stock Exchange under the ticker symbol "CAVA." The company sold 14.4 million shares, raising nearly $318 million and initially valuing the restaurant chain at roughly $2.45 billion. Shares of Mediterranean restaurant chain Cava soared as much as 107% in its market debut Thursday morning before giving up some of those gains. Sector leader Chipotle made its public market debut back in 2006 and has seen its market value grow to $56.9 billion.
Persons: Zoes, It's, Brett Schulman, Chipotle Organizations: New York Stock Exchange, Group, Brands Locations: Cava, New York City, Chao
Mediterranean chain Cava announced Monday it has confidentially filed for an initial public offering. It's the first restaurant company so far this year to take the first step toward a public market debut, following a drought of IPOs in 2022. In 2018, it bought Zoes Kitchen for $300 million, taking the chain private. The company is converting Zoes locations into new Cava restaurants, expanding its footprint. Cava also sells its dips and spreads, like spicy hummus, tzatziki and tahini dressing, at Whole Foods and other grocery stores.
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