Cava jumps after upbeat quarterly results

Cava said it was hit by falling consumer sentiment toward dining out due to the Cyclosporiasis outbreak before sales rebounded, and added that it was not impacted by the recent Salmonella outbreak.

However, the company maintained its annual forecasts amid the recent food-safety concerns, the macroeconomic environment and inflationary pressures, including higher gas prices.

The stock has fallen about 28% over the last 12 months.

Shares of restaurant chain Cava CAVA.N rose about 9% to $66.95 in extended trading after the company beat Wall Street expectations for second-quarter sales and core profit, helped by strong demand for its affordable Mediterranean food.

The company said second-quarter same-restaurant sales gained 9%, topping analysts' estimates of a 7.63% rise, while guest traffic increased 5.3%.