Cava Group shares fall 22.18% after-hours after missing Q2 revenue estimates and cutting annual sales growth target.

Cava Group, Inc. dropped 22.18% in after-hours trading, following the release of its Q2 earnings report. The company reported a 20.3% increase in revenue, but it missed Wall Street's estimates. Additionally, Cava's shares fell after the company cut its annual sales growth target for the first time since its IPO.