Cava CFO on growth, AI and why price hikes aren’t on the agenda

Good morning. Cava reported strong second-quarter results, with revenue increasing 31.3% year-over-year to $365.4 million, same-restaurant sales up 9% on 5.3% traffic growth. Shares of the fast-casual Mediterranean restaurant jumped over 10% after the earnings announcement. CFO Tricia Tolivar spoke about how Cava's finance team is leveraging AI tools built into the company's proprietary data platforms, Cava Core and Cava Current, to enhance preparation and analysis for the Aug.

11 earnings call. Tolivar believes AI can make the team more efficient and effective, but maintains that the company values human connection. Despite the rapid expansion, Cava plans to hire 2,500 new employees this year while scaling automation. The company launched "Flavor Your Future," a campaign to support career growth within the organization and introduce an assistant general manager position in about 70% of its restaurants to build a bench of future leaders.

Cava opened 17 net new restaurants in Q2, bringing its total footprint to 476 locations nationwide, with plans to open 75 new restaurants this year. Regarding pricing, Tolivar mentioned that Cava raised menu prices by just 1.4% to 1.5% at the beginning of 2026, kept base bowl prices flat, and has maintained prices nearly half the rate of the Consumer Price Index (CPI) for several years.

No further price increases are anticipated for the rest of the year. The chain recently added salmon to its menu, which met expectations, and launched Harissa barbecue pita chips, which Tolivar believes are best dipped in the garlic dressing.