CAVA's CEO Brett Schulman announced significant plans for expansion after the restaurant chain reported a robust 28.3% revenue growth in its first full year as a public company. With four consecutive quarters of positive cash flow and the opening of 58 new locations, CAVA aims to enhance its presence in cities like Detroit and South Florida. Schulman emphasized the importance of value over price discounting, stating that a focus on quality and experience has driven customer traffic growth, setting CAVA apart from competitors in a challenging economic landscape.
"You can't discount your way to prosperity with guests," Schulman says. "We look at value as a combination of quality, relevance, convenience and experience."
We're very excited to continue to grow those markets and build upon the presence we have in existing regions," Schulman tells Fast Company.
Schulman says that was 'our best market opening ever,' referring to the successful launch in the greater Chicago metropolitan area.
Much of this success, Schulman says, comes from an increased focus on providing value, rather than price discounting.
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