Cava Group reported second-quarter revenue of $278.25 million, missing estimates of $286.58 million, according to Benzinga Pro. Adjusted earnings of 16 cents per share topped forecasts of 14 cents. Revenue rose 20.3% year-over-year on same-restaurant sales growth of 2.1%, driven by menu pricing and product mix, as guest traffic remained flat. The company opened 16 new locations in the quarter, bringing its total to 398, and ended the period with $290.17 million in cash. Cava now expects full-year same-restaurant sales growth of 4% to 6%, down from 6% to 8%, but raised its restaurant opening target to 68 to 70 this year from 64 to 68. Full-year adjusted EBITDA is still projected at $152 million to $159 million. Shares fell 22.45% in after-hours trading on Tuesday.
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