According to the Wisdom Finance APP, on Wednesday, CAVA Group (CAVA.US) surged over 16% in pre-market trading, opening at a historical high of 168.91 US dollars. On the news side, the company's performance in the third quarter of 2024 was strong, with revenue growing by 39% year-on-year, reaching 0.242 billion US dollars. Net income surged by 163% from the third quarter of 2023 to reach 18 million US dollars. Same-store sales skyrocketed by 18.1%, mainly driven by a 12.9% increase in foot traffic. Free cash flow surged to 23.4 million US dollars, a significant increase from the previous year. The company opened 11 net new restaurants, expanding the total number of restaurants to 352, a year-on-year growth of 21.4%.

CEO Brett Schulman emphasized the strength of the brand and strategic initiatives, including new loyalty programs and labor models. The company raised its outlook for new restaurant openings and same-store sales growth in the 2024 fiscal year.