CAVA CEO weighed in on the FAST Act and the potential impact of weight loss drugs.
CAVA is often called the next Chipotle, but CEO Brett Schulman says they're carving out their own identity.
He said the company grew at a "higher growth rate in recent years" as it completed its acquisition of Zoe's Kitchen. It also expanded to new market areas, based on demand. "Stocks will go up and down. We're excited with how the market received our offering and how it's been received since."CAVA also weighed in on other headwinds facing the restaurant industry as of late, including the potential impact of California's FAST Act, which raises starting pay for fast food workers to $20 an hour. It takes effect on April 1, 2024.CAVA has roughly 20 locations in the state.
"It could be a net benefit for us," Schulman said, given that early data shows consumers are eliminating "salty snacking, fattier foods, late night eating and alcohol."'What are you, an idiot?': Kevin O’Leary says people are wasting 15 to 20% of their income on ‘stupid stuff’ like coffee and sandwiches — here’s what he wants you to do instead
‘She ran rings around Warren Buffett’: An IRS auditor secretly turned her $5K nest egg into a $22M fortune — here are the 3 simple strategies that made Anne Scheiber richDividend income can be a saviour, but it can be incredibly expensive to bring in if you don't consider these other alternatives. The post How Much Do You Need to Invest to Give Up Work and Live Only Off Dividend Income? appeared first on The Motley Fool Canada.
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