🔴 CAVA Group is trading 9.45% down after Q3 sales and earnings missed expectations

CAVA Group is trading 9.45% down now at $56.12 after its November 4 earnings report disappointed investors.

• Third-quarter same-restaurant sales grew 3.1%, below expectations, while revenue and earnings also missed estimates.
• Restaurant-level margin contracted to 23.4%; management cited a roughly 150-basis-point sales drag from Cyclospora-related produce concerns, alongside higher labor, delivery, and maintenance costs.
• The company raised full-year sales guidance but lowered the upper end of its margin and EBITDA outlooks.