🔴 CAVA Group is trading 11.06% down in after-hours trading after earnings missed estimates

CAVA Group is trading $54.94, down 11.06%, after its November 4 earnings release, the clear company-specific catalyst for the after-hours decline.

• Third-quarter revenue was $353.7 million and same-restaurant sales grew 3.1%; both missed estimates.
• Restaurant-level profit margin fell 120 basis points to 23.4%, with labor, delivery mix, and repair costs cited.
• Cyclospora-related produce concerns weighed on comparable sales, while full-year sales guidance was raised.