Cava stock tumbled 16% in afternoon trading on Wednesday, making it the latest fast-casual chain to feel Wall Street’s wrath after reporting disappointing quarterly sales. A year ago, eateries like Chipotle Mexican Grill and Cava were reporting double-digit same-store sales growth, even as the broader restaurant industry posted falling traffic and slumping sales. But times…
Customers arrive at a Cava restaurant in New York City on June 22, 2023. Brendan Mcdermid | Reuters Cava on Tuesday lowered its full-year forecast for same-store sales growth after a disappointing second quarter. For the full year, Cava now anticipates same-store sales growth of 4% to 6%, down from its prior range of 6%…
Starbucks Protein Drink Courtesy: Starbucks Restaurant chains are joining in on the protein frenzy, hoping to encourage diners to pay more for extra macronutrients during a time when many consumers aren’t spending as much. From “gym bros” to users of GLP-1 drugs like Ozempic, many Americans are trying to add more protein to their diets,…
People walk past a Sweetgreen restaurant in Manhattan. Jeenah Moon | The Washington Post | Getty Images Sweetgreen shares dropped 23% on Friday after the salad chain cut its 2025 outlook for the second quarter in a row, citing issues with its loyalty program, weak consumer sentiment, tariff headwinds and store challenges. For the full-year…
Check out the companies making headlines before the bell: Under Armour — The retail stock tumbled 21% after the American sportswear company posted first-quarter results that missed estimates. Under Armour reported adjusted earnings of 2 cents per share, lower than the FactSet consensus estimate of 3 cents per share. Revenue of $1.10 billion came in…
Check out the companies making headlines after the bell : Expedia Group — The travel booking website’s shares skyrocketed more than 15% in extended trading after the company’s second-quarter earnings and revenue beat expectations. Expedia also raised guidance for bookings and revenue for the full year. Block — Shares of the Cash App parent gained…
A customer exits a Cava restaurant in New York City on June 22, 2023. Brendan McDermid | Reuters As some consumers pull back on spending amid economic uncertainty, fast-casual restaurant chains are leaning on rewards programs to pull them back in. Loyalty programs, which offer discounts or added perks for returning customers, have transitioned from…
Check out the companies making the biggest moves midday: Diabetes tech stocks — The Centers for Medicare & Medicaid Services is proposing a rule change that could change the reimbursement rates for continuous glucose monitors and insulin pumps. The news sent shares of diabetes tech stocks lower. Tandem Diabetes Care and Beta Bionics tumbled 4%…
Check out the companies making headlines in extended trading. Affirm — Stock in the buy now, pay later company pulled back nearly 8%. Affirm issued fiscal fourth- quarter revenue guidance ranging between $815 million and $845 million, with a midpoint of $830 million. That’s short of the consensus estimate of $841 million, per LSEG. Pinterest…
Check out the companies making headlines in after-hours trading. Snowflake — Shares of Snowflake popped more than 9% on the back of the company’s better-than-expected fourth quarter report. The data cloud analytics company reported adjusted earnings of 30 cents a share on revenue of $987 million, while analysts surveyed by LSEG expected earnings of 17…
