Cava Meets the Press: Brett Schulman Discusses Q1 Earnings, 2025 Vision, and Tariff Impacts on Squawk Box
In a recent interview on CNBC’s Squawk Box, Brett Schulman, co-founder and CEO of Cava, shared insights about the fast-casual restaurant chain’s Q1 earnings, future plans, and the potential impact of tariffs on their business.
Q1 Earnings:
Brett began by discussing the company’s solid Q1 performance, reporting a 25% increase in comparable restaurant sales. He attributed this growth to various factors, including the success of their digital platform and the expansion of their menu offerings.
2025 Vision:
When asked about Cava’s long-term goals, Brett shared that they are aiming to double their store count in the next five years, with a focus on expanding their presence in existing markets and entering new ones. He also mentioned their commitment to innovation, such as their recent partnership with Beyond Meat to offer plant-based protein options.
Tariff Impact:
The conversation then turned to the potential impact of tariffs on Cava, as the restaurant industry is heavily reliant on imported ingredients. Brett acknowledged the challenge but remained optimistic, stating that they have been able to manage the cost increases thus far and are working closely with their suppliers to mitigate any potential negative effects.
Consumer Impact:
As a consumer, you may notice slight price increases at Cava due to the tariffs. However, Brett reassured viewers that they are committed to keeping their prices as affordable as possible for their customers.
World Impact:
On a larger scale, the tariff situation could have significant ripple effects on the restaurant industry as a whole. With many chains relying on imported ingredients, cost increases could lead to higher menu prices and potential profit losses. However, it’s important to note that not all restaurants will be affected equally, and those with strong supply chain relationships and the ability to absorb costs may fare better.
Conclusion:
Brett Schulman’s appearance on Squawk Box provided valuable insights into Cava’s Q1 earnings, future plans, and their approach to tariff challenges. As a consumer, you can expect slight price increases at Cava, but the company remains committed to affordability. On a larger scale, the tariff situation could impact the restaurant industry significantly, with those able to manage costs best being most resilient.
- Cava reports 25% increase in comparable restaurant sales for Q1
- CEO Brett Schulman aims to double store count in next 5 years
- Tariffs could lead to slight price increases at Cava
- Industry-wide impact: cost increases and potential profit losses
