Cava CEO on Cyclospora, Dining Trends and Growth Outlook

Cava CEO Brett Schulman discusses the company's strong quarter, its clean supply chain amid the cyclospora outbreak, and consumer shifts toward Mediterranean/health-focused dining. He also highlights digital and physical channel growth, menu innovation, and a deliberate underpricing strategy. The comments are broadly supportive of Cava's growth outlook. - Cava reported 9% comp growth above estimates and maintained full-year guidance. - Management says Cava's supply chain has no connection to the cyclospora outbreak and no health officials have contacted the company. - Consumers are trading into Cava from full-service restaurants, limited-service restaurants, and grocery stores. - Mediterranean diet popularity and GLP-1/health trends are cited as structural demand drivers. - Digital sales reached 39% of revenue, with investment in both digital and physical channels. - Premium menu items like salmon and attachments are supporting sales. - Cava is underpricing inflation to strengthen guest value and traffic. - Restaurant-level margin fell 60 basis points due to cost/inflation pressures.