What drove CAVA's EPS growth in Q2 2024?

CAVA's EPS growth in Q2 2024 was driven by several key factors:

1. Revenue Surge: CAVA's revenue increased by 30.3% year-over-year to $256.3 million in Q1 2024, surpassing the consensus estimate of $245.94 million. This significant increase in revenue contributed to the EPS growth.
2. New Restaurant Openings: The company opened 14 net new restaurants in Q1 2024 and plans to open 50-54 more by the end of FY2024. New restaurant openings have supported growth and contributed to the company's revenue and EPS growth.
3. Same-Restaurant Sales Growth: CAVA reported a 2.3% increase in same-restaurant sales, driven by a 3.5% increase in menu prices and product mix. This growth in same-restaurant sales has positively impacted the EPS.
4. Menu Innovation and Advertising: CAVA has seen growth in advertising, menu innovation, and digital sales, which have contributed to the SSS growth in the near-to-medium-term. These factors have likely played a role in the company's revenue and EPS growth.

In summary, CAVA's EPS growth in Q2 2024 was driven by a combination of revenue surge, new restaurant openings, same-restaurant sales growth, and menu innovation and advertising.