CAVA Group Inc (NYSE:CAVA) shares are trading lower Wednesday on the heels of the company's first-quarter financial results. Cava reported the same restaurant sales growth of 2.3%. The company said it opened 14 new restaurants during the quarter, bringing total locations up to 323, up 22.3% year-over-year.
Cava's first-quarter revenue increased 30.3% year-over-year to $256.3 million, which beat the consensus estimate of $245.935 million, according to Benzinga Pro.