CAVA GROUP, INC., 10-Q filed on 8/23/2024
Quarterly Report
v3.24.2.u1
Cover - shares
 6 Months Ended
Jul. 14, 2024
Aug. 15, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jul. 14, 2024  
Document Transition Report false  
Entity File Number 001-41721  
Entity Registrant Name CAVA Group, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 47-3426661  
Entity Address, Address Line One 14 Ridge Square NW  
Entity Address, Address Line Two Suite 500  
Entity Address, City or Town Washington  
Entity Address, State or Province DC  
Entity Address, Postal Zip Code 20016  
City Area Code 202  
Local Phone Number 400-2920  
Title of 12(b) Security Common Stock, par value $0.0001 per share  
Trading Symbol CAVA  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company true  
Entity Ex Transition Period false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   114,320,581
Entity Central Index Key 0001639438  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q2  
Current Fiscal Year End Date --12-29  
Amendment Flag false  
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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jul. 14, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 343,748 $ 332,428
Trade accounts receivable, net 5,927 3,662
Other accounts receivable 7,962 8,223
Inventories 7,195 5,637
Prepaid expenses and other 4,934 4,962
Total current assets 369,766 354,912
Property and equipment, net 355,014 330,730
Operating lease assets 304,926 289,451
Goodwill 1,944 1,944
Intangible assets 1,355 1,355
Other long-term assets 5,537 5,365
Total assets 1,038,542 983,757
Current liabilities:    
Accounts payable 20,348 17,234
Accrued expenses and other 63,542 59,219
Operating lease liabilities, current 39,711 32,583
Total current liabilities 123,601 109,036
Deferred income taxes 79 79
Operating lease liabilities 319,425 303,615
Other long-term liabilities 0 225
Total liabilities 443,105 412,955
Commitments and Contingencies (Note 9)
Stockholders' equity:    
Common stock, par value $0.0001 per share; 2,500,000 shares authorized; 114,306 and 113,708 issued and outstanding, respectively 11 11
Treasury stock, at cost; 1,378 shares and 1,086 shares, respectively (27,066) (9,727)
Additional paid-in capital 1,036,421 1,028,181
Accumulated deficit (413,929) (447,663)
Total stockholders’ equity 595,437 570,802
Total liabilities and stockholders' equity $ 1,038,542 $ 983,757
v3.24.2.u1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Jul. 14, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Common stock, par value (in usd per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,500,000,000 2,500,000,000
Common stock, shares issued (in shares) 114,306,000 113,708,000
Common stock, shares outstanding (in shares) 114,306,000 113,708,000
Treasury stock (in shares) 1,378,000 1,086,000
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 14, 2024
Jul. 09, 2023
Jul. 14, 2024
Jul. 09, 2023
Income Statement [Abstract]        
Total revenue $ 233,495 $ 172,894 $ 492,501 $ 375,977
Restaurant operating expenses (excluding depreciation and amortization)        
Food, beverage, and packaging 68,839 51,000 142,786 110,118
Labor 58,388 42,417 124,901 94,571
Occupancy 15,917 13,400 36,339 29,999
Other operating expenses 27,991 20,646 60,749 45,294
Total restaurant operating expenses 171,135 127,463 364,775 279,982
General and administrative expenses 28,281 23,321 62,121 52,345
Depreciation and amortization 13,733 10,709 31,055 23,568
Restructuring and other costs 70 1,853 352 4,068
Pre-opening costs 3,302 3,400 6,681 9,399
Impairment and asset disposal costs 830 386 2,120 3,105
Total operating expenses 217,351 167,132 467,104 372,467
Income from operations 16,144 5,762 25,397 3,510
Other income (expense):        
Interest income, net (3,824) (699) (8,738) (674)
Other income, net 60 118 138 292
Income before income taxes 20,028 6,579 34,273 4,476
Provision for income taxes 287 40 539 78
Net income $ 19,741 $ 6,539 $ 33,734 $ 4,398
Earnings per share:        
Basic (in usd per share) $ 0.17 $ 0.23 $ 0.30 $ 0.34
Diluted (in usd per share) $ 0.17 $ 0.21 $ 0.29 $ 0.29
Weighted-average common shares outstanding:        
Basic (in shares) 114,130 28,366 114,040 13,098
Diluted (in shares) 118,291 31,279 118,088 15,212
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PREFERRED STOCK AND STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Treasury Stock
Additional Paid in Capital
Accumulated Deficit
Beginning Balance (in shares) at Dec. 25, 2022 95,204,000        
Beginning Balance at Dec. 25, 2022 $ 662,308        
Redeemable Preferred Stock          
Conversion of preferred stock (in shares) (95,204,000)        
Conversion of preferred stock $ (662,308)        
Ending Balance (in shares) at Jul. 09, 2023 0        
Ending Balance at Jul. 09, 2023 $ 0        
Beginning balance (in shares) at Dec. 25, 2022   1,409,000      
Beginning balance at Dec. 25, 2022 (448,503) $ 0 $ (6,619) $ 19,059 $ (460,943)
Beginning balance (in shares) at Dec. 25, 2022     886,000    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Equity-based compensation 2,671     2,671  
Shares purchased under equity plans (in shares)   61,000      
Shares purchased under equity plans 289     289  
RSU vesting (in shares)   447,000      
RSU vesting 0        
Tax withholding on stock-based compensation awards (in shares)   151,000 151,000    
Tax withholding on stock-based compensation awards (1,466)   $ (1,466)    
Proceeds from initial public offering, net of underwriting fees and offering costs of $29.3 million (in shares)   16,611,000      
Proceeds from initial public offering, net of underwriting fees and offering costs of $29.3 million 336,111 $ 1   336,110  
Conversion of preferred stock (in shares)   95,204,000      
Conversion of preferred stock 662,309 $ 10   662,299  
Net income 4,398       4,398
Ending balance (in shares) at Jul. 09, 2023   113,581,000      
Ending balance at Jul. 09, 2023 $ 555,809 $ 11 $ (8,085) 1,020,428 (456,545)
Ending balance (in shares) at Jul. 09, 2023     1,037,000    
Beginning Balance (in shares) at Apr. 16, 2023 95,204,000        
Beginning Balance at Apr. 16, 2023 $ 662,308        
Redeemable Preferred Stock          
Conversion of preferred stock (in shares) (95,204,000)        
Conversion of preferred stock $ (662,308)        
Ending Balance (in shares) at Jul. 09, 2023 0        
Ending Balance at Jul. 09, 2023 $ 0        
Beginning balance (in shares) at Apr. 16, 2023   1,703,000      
Beginning balance at Apr. 16, 2023 (451,041) $ 0 $ (7,987) 20,030 (463,084)
Beginning balance (in shares) at Apr. 16, 2023     1,030,000    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Equity-based compensation 1,743     1,743  
Shares purchased under equity plans (in shares)   43,000      
Shares purchased under equity plans 246     246  
RSU vesting (in shares)   27,000      
RSU vesting 0        
Tax withholding on stock-based compensation awards (in shares)   7,000 7,000    
Tax withholding on stock-based compensation awards (98)   $ (98)    
Proceeds from initial public offering, net of underwriting fees and offering costs of $29.3 million (in shares)   16,611,000      
Proceeds from initial public offering, net of underwriting fees and offering costs of $29.3 million 336,111 $ 1   336,110  
Conversion of preferred stock (in shares)   95,204,000      
Conversion of preferred stock 662,309 $ 10   662,299  
Net income 6,539       6,539
Ending balance (in shares) at Jul. 09, 2023   113,581,000      
Ending balance at Jul. 09, 2023 $ 555,809 $ 11 $ (8,085) 1,020,428 (456,545)
Ending balance (in shares) at Jul. 09, 2023     1,037,000    
Beginning Balance (in shares) at Dec. 31, 2023 0        
Beginning Balance at Dec. 31, 2023 $ 0        
Ending Balance (in shares) at Jul. 14, 2024 0        
Ending Balance at Jul. 14, 2024 $ 0        
Beginning balance (in shares) at Dec. 31, 2023 113,708,000 113,708,000      
Beginning balance at Dec. 31, 2023 $ 570,802 $ 11 $ (9,727) 1,028,181 (447,663)
Beginning balance (in shares) at Dec. 31, 2023 1,086,000   1,086,000    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Equity-based compensation $ 6,949     6,949  
Shares purchased under equity plans (in shares)   111,000      
Shares purchased under equity plans 1,291     1,291  
RSU vesting (in shares)   779,000      
RSU vesting 0        
Tax withholding on stock-based compensation awards (in shares)   292,000 292,000    
Tax withholding on stock-based compensation awards (17,339)   $ (17,339)    
Net income $ 33,734       33,734
Ending balance (in shares) at Jul. 14, 2024 114,306,000 114,306,000      
Ending balance at Jul. 14, 2024 $ 595,437 $ 11 $ (27,066) 1,036,421 (413,929)
Ending balance (in shares) at Jul. 14, 2024 1,378,000   1,378,000    
Beginning Balance (in shares) at Apr. 21, 2024 0        
Beginning Balance at Apr. 21, 2024 $ 0        
Ending Balance (in shares) at Jul. 14, 2024 0        
Ending Balance at Jul. 14, 2024 $ 0        
Beginning balance (in shares) at Apr. 21, 2024   114,009,000      
Beginning balance at Apr. 21, 2024 580,810 $ 11 $ (17,766) 1,032,235 (433,670)
Beginning balance (in shares) at Apr. 21, 2024     1,271,000    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Equity-based compensation 2,954     2,954  
Shares purchased under equity plans (in shares)   100,000      
Shares purchased under equity plans 1,232     1,232  
RSU vesting (in shares)   304,000      
RSU vesting 0        
Tax withholding on stock-based compensation awards (in shares)   107,000 107,000    
Tax withholding on stock-based compensation awards (9,300)   $ (9,300)    
Net income $ 19,741       19,741
Ending balance (in shares) at Jul. 14, 2024 114,306,000 114,306,000      
Ending balance at Jul. 14, 2024 $ 595,437 $ 11 $ (27,066) $ 1,036,421 $ (413,929)
Ending balance (in shares) at Jul. 14, 2024 1,378,000   1,378,000    
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jul. 14, 2024
Jul. 09, 2023
Cash flows from operating activities:    
Net income $ 33,734 $ 4,398
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 31,055 23,541
Amortization of intangible assets 0 27
Equity-based compensation 6,949 2,671
Impairment and asset disposal costs 2,120 3,105
Changes in operating assets and liabilities:    
Trade accounts receivable (2,265) (1,499)
Other accounts receivable 261 (2,644)
Inventories (1,558) (217)
Prepaid expenses and other (143) 1,371
Operating lease assets (15,588) (18,035)
Accounts payable 3,764 (281)
Accrued expenses and other 6,022 13,944
Operating lease liabilities 22,944 20,729
Net cash provided by operating activities 87,295 47,110
Cash flows from investing activities:    
Purchases of property and equipment (59,882) (72,478)
Net cash used in investing activities (59,882) (72,478)
Cash flows from financing activities:    
Proceeds from long-term debt 0 6,000
Payments on long-term debt 0 (6,000)
Tax withholding on stock-based compensation awards (17,339) (1,466)
Shares purchased under equity plans 1,291 289
Proceeds from initial public offering, net of underwriting fees of $22.8 million 0 342,604
Offering costs paid 0 (1,922)
Payment of loan acquisition fees 0 (365)
Payments on finance lease obligations (45) (52)
Net cash (used in) provided by financing activities (16,093) 339,088
Net change in cash and cash equivalents 11,320 313,720
Cash and cash equivalents - beginning of year 332,428 39,125
Cash and cash equivalents - end of period 343,748 352,845
Supplemental Disclosure of Cash Flow Information:    
Offering costs not yet paid 0 3,462
Cash paid for income taxes 985 166
Change in accrued purchases of property and equipment (2,422) 8,727
Conversion of redeemable preferred stock into common stock in connection with initial public offering $ 0 $ 662,309
v3.24.2.u1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PREFERRED STOCK AND STOCKHOLDERS' EQUITY - Parenthetical - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jul. 09, 2023
Jul. 09, 2023
Statement of Stockholders' Equity [Abstract]    
Underwriting fees and deferred offering costs $ 29.3 $ 29.3
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NATURE OF OPERATIONS AND BASIS OF PRESENTATION
 6 Months Ended
Jul. 14, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
NATURE OF OPERATIONS AND BASIS OF PRESENTATION NATURE OF OPERATIONS AND BASIS OF PRESENTATION
CAVA Group, Inc. (together with its wholly owned subsidiaries, referred to as the “Company”, “CAVA”, “we”, “us”, and “our” unless specified otherwise) was formed as a Delaware corporation in 2015, and prior to that, the first CAVA restaurant opened in 2011 in Bethesda, Maryland. The Company is headquartered in Washington D.C. and, as of July 14, 2024, the Company operated 341 fast-casual CAVA Restaurants in 25 states and Washington D.C. The Company’s authentic Mediterranean cuisine unites taste and health, with a menu that features chef-curated and customizable bowls and pitas. The Company’s dips, spreads, and dressings are centrally produced for use in its restaurants and to be sold in grocery stores.
The Company’s operations are conducted as two reportable segments: CAVA and Zoes Kitchen. These segments were determined on the same basis that the Company’s Chief Executive Officer, who is the chief operating decision maker (“CODM”), manages, evaluates, and makes key decisions regarding the business. As of March 2, 2023, the Company no longer operates any Zoes Kitchen locations.
Initial Public Offering—On June 20, 2023, the Company completed an initial public offering (the “IPO”) of 16.6 million shares of common stock at a price of $22.00 per share, which included 2.2 million shares sold to the underwriters pursuant to their option to purchase additional shares. After underwriting discounts and commissions of $22.8 million and offering expenses of $6.5 million, the Company received net proceeds from the offering of $336.1 million. In connection with the IPO, 95.2 million outstanding shares of preferred stock were converted into an equivalent number of shares of common stock.
Interim Financial Statements—The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles and practices of the United States of America (“GAAP”) for interim financial information. Certain information and footnote disclosures normally included in annual financial statements presented in accordance with GAAP have been omitted pursuant to rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the results for interim periods have been included.
The unaudited interim financial information should be read in conjunction with the audited consolidated financial statements included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2023. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year.
Recently Issued Accounting Standards—In November 2023, the Financial Accounting Standards Board (“FASB”), issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure through enhanced disclosures about significant segment expenses. The amendment is effective for fiscal years beginning after December 15, 2023 and for interim periods within fiscal year beginning after December 15, 2024 and early adoption is permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact of adopting this ASU on its disclosures.
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which improves income tax disclosures through enhanced disaggregation within the rate reconciliation table and disaggregation of income taxes paid by jurisdiction. The amendment is effective for fiscal years beginning after December 15, 2024 and early adoption is permitted. The amendments should be applied on a prospective basis, however, retrospective application is permitted. The Company is currently evaluating the impact of adopting this ASU on its disclosures.
The Company reviewed all other recently issued accounting standards and determined they were either not applicable or not expected to have a material impact on the Company’s financial position or results from operations.
JOBS Act Election—In April 2012, the JOBS Act was enacted. Section 107(b) of the JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an emerging growth company can delay adoption of certain accounting standards until those standards would apply to private companies. The Company has elected to take advantage of the extended transition period to comply with new or revised accounting standards and to adopt certain of the reduced disclosure requirements available to emerging growth companies. As a result of the accounting standards election, the Company will not be subject to the same implementation timing for new or revised accounting standards as other public companies that are not emerging
growth companies and, as a result, the Company’s financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates.
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REVENUE
 6 Months Ended
Jul. 14, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
The Company’s revenue was as follows:
Twelve Weeks EndedTwenty-Eight Weeks Ended
(in thousands)July 14,
2024		July 9,
2023		July 14,
2024		July 9,
2023
Restaurant revenue$231,384 $171,089 $487,674 $371,717 
CPG revenue and other2,111 1,805 4,827 4,260 
Revenue$233,495 $172,894 $492,501 $375,977 
Revenue from the redemption of the Company’s gift cards and loyalty program is included in restaurant revenue. Refer to Note 5 (Accrued Expenses and Other) for the Company’s gift card and loyalty liability balances. Revenue recognized from the redemption of gift cards, that was included in the gift card liability at the beginning of the year was $0.4 million and $0.1 million during the twelve weeks ended July 14, 2024 and July 9, 2023, respectively. Revenue recognized from the redemption of gift cards, that was included in the gift card liability at the beginning of the year was $1.2 million and $0.4 million during the twenty-eight weeks ended July 14, 2024 and July 9, 2023, respectively. The full amount of the outstanding loyalty liability as of July 14, 2024 is expected to be recognized within one year due to the expiration of loyalty rewards being less than one year.
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FAIR VALUE
 6 Months Ended
Jul. 14, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE FAIR VALUE
Assets and Liabilities Measured at Fair Value on a Recurring Basis—The carrying amounts of the Company’s financial instruments, which include cash and cash equivalents, accounts receivable, accounts payable, and other accrued expenses, approximate their fair values due to their short maturities.
Assets and Liabilities Measured at Fair Value on a Non-recurring Basis—Assets recognized or disclosed at fair value in the accompanying unaudited condensed consolidated financial statements on a nonrecurring basis may include items such as property and equipment, net, operating lease assets, goodwill, and intangible assets, net. These assets are measured at fair value whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
Certain operating lease assets were measured at fair value, on a non-recurring basis, as of April 16, 2023, in connection with an impairment charge of $0.7 million, which is included within impairment and asset disposal costs in the accompanying unaudited condensed consolidated statements of operations for the twenty-eight weeks ended July 9, 2023. The fair value of these assets was concluded to be $0.4 million using an income approach (discounted cash flow method), which was measured using Level 3 inputs (unobservable inputs), including the discount rate and projected restaurant revenues and expenses.
v3.24.2.u1
PROPERTY AND EQUIPMENT, NET
 6 Months Ended
Jul. 14, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET PROPERTY AND EQUIPMENT, NET
The following table presents the Company’s property and equipment, net:
(in thousands)July 14,
2024		December 31,
2023
Land$600 $600 
Building24,264 — 
Leasehold improvements302,426 268,245 
Equipment and other101,042 79,268 
Furniture and fixtures20,321 19,694 
Computer hardware and software50,699 46,437 
Construction in progress25,383 58,501 
Total property and equipment, gross524,735 472,745 
Less accumulated depreciation(169,721)(142,015)
Total property and equipment, net$355,014 $330,730 
Construction in progress includes CAVA new restaurant openings and technology improvements as of both periods presented above. Building, as of July 14, 2024 and construction in progress as of December 31, 2023, includes the new production facility in Verona, Virginia, which commenced operations in the first quarter of fiscal 2024.
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ACCRUED EXPENSES AND OTHER
 6 Months Ended
Jul. 14, 2024
Payables and Accruals [Abstract]  
ACCRUED EXPENSES AND OTHER ACCRUED EXPENSES AND OTHER
The following table presents the Company’s accrued expenses and other:
(in thousands)July 14,
2024		December 31,
2023
Accrued payroll and payroll taxes$23,521 $23,370 
Accrued capital purchases6,164 7,935 
Sales and use tax payable8,277 3,807 
Gift card and loyalty liabilities4,357 4,096 
Other accrued expenses21,223 20,011 
Total accrued expenses and other$63,542 $59,219 
v3.24.2.u1
DEBT
 6 Months Ended
Jul. 14, 2024
Debt Disclosure [Abstract]  
DEBT DEBT
As of July 14, 2024, the Company had a revolving loan commitment with available borrowing capacity of $74.3 million, net of $0.7 million of outstanding letters of credit, (the “2022 Credit Facility”) with JPMorgan Chase Bank, N.A. as administrative agent. The 2022 Credit Facility has a five-year term and matures on March 11, 2027. The 2022 Credit Facility included a delayed draw term loan facility (“DDTL”) of $24.0 million, which facility commitment terminated on August 15, 2024. Interest on loans under the 2022 Credit Facility are based on the one, three or six months Adjusted Term Secured Overnight Financing Rate (as described in the 2022 Credit Facility), as applicable, plus an applicable margin of 1.50% to 2.50% based on the Company’s Total Rent Adjusted Net Leverage Ratio (as defined in the 2022 Credit Facility). The Company is also required to pay a commitment fee for unused amounts under the 2022 Credit Facility (and a similar ticking fee with respect to undrawn loans under the DDTL through its termination), which ranges from 0.20% to 0.35% based on the Total Rent Adjusted Net Leverage Ratio. The 2022 Credit Facility is unconditionally guaranteed by certain of the Company’s domestic restricted subsidiaries and is secured, subject to permitted liens and other exceptions, by a first-priority security interest in and pledge of certain assets of the borrower and the guarantors. The 2022 Credit Facility includes customary restrictive covenants and covenants that require compliance with certain leverage ratios. As of July 14, 2024, the Company was in compliance with these financial and other covenants, and the Company had no borrowings under the 2022 Credit Facility.
v3.24.2.u1
INCOME TAXES
 6 Months Ended
Jul. 14, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company’s full pretax income for the twelve and twenty-eight weeks ended July 14, 2024 and July 9, 2023 was from U.S. domestic operations. The Company’s effective tax rate differs from the statutory rate primarily due to the valuation allowance recorded against deferred tax assets (“DTAs”).
A valuation allowance is provided when it is more likely than not that some portion or all of the DTAs will not be realized. The factors used to assess the likelihood of realization include the Company’s historical and forecast of future taxable income and available tax planning strategies that could be implemented to realize the net DTAs. The Company assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated. A significant piece of objective negative evidence evaluated was the cumulative losses incurred over the most recent three-year period ended July 14, 2024. Such objective evidence limits the ability to consider other subjective evidence, such as projections for future growth. On the basis of this evaluation, as of July 14, 2024 and December 31, 2023, a full valuation allowance has been recorded on the Company’s DTAs.
Management has evaluated our recent profitability trends and believes that, if current trends persist, there is a reasonable possibility that within the current fiscal year, sufficient positive evidence may become available to allow us to reach the conclusion that a significant portion of the valuation allowance will no longer be needed. Release of the valuation allowance would result in the recognition of certain DTAs and a decrease to income tax expense for the period the release is recorded. However, the exact timing and amount of the valuation allowance to be released are subject to change based on the positive evidence, including, but not limited to, the level of expected profitability, that we are able to actually achieve in future periods.
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LEASES
 6 Months Ended
Jul. 14, 2024
Leases [Abstract]  
LEASES LEASES
The Company leases all of its CAVA Restaurants, its digital kitchens, its production facility in Laurel, Maryland, its collaboration center in Washington D.C., and its support centers in Brooklyn, New York and Plano, Texas. The Company determines if a contract contains a lease at inception, and determines the classification of a lease, if necessary. Typically, restaurant leases have initial terms of 10 years and include five-year renewal options.
Supplemental disclosures of cash flow information related to leases were as follows:
Twelve Weeks EndedTwenty-Eight Weeks Ended
(in thousands)July 14,
2024		July 9,
2023		July 14,
2024		July 9,
2023
Cash paid for operating lease liabilities$14,134 $11,689 $28,410 $23,153 
Operating lease assets obtained in exchange for operating lease liabilities13,866 20,051 33,397 33,884 
Derecognition of operating lease assets due to termination or impairment— — 109 2,786 
v3.24.2.u1
COMMITMENTS AND CONTINGENCIES
 6 Months Ended
Jul. 14, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Purchase Obligations—The Company enters into various purchase obligations in the ordinary course of business, generally of a short-term nature. Those that are binding primarily relate to amounts owed for produce and other ingredients and supplies, including supplies and materials used for new restaurant openings.
Letters of Credit—As of July 14, 2024 and December 31, 2023, the Company had four irrevocable letters of credit in favor of various landlords in the aggregate amount of $0.7 million. The letters of credit do not require a compensating balance and automatically renew in accordance with the terms of the underlying lease agreement.
Litigation—The Company is currently involved in various claims and legal actions that arise in the ordinary course of its business, including claims resulting from employment related matters. While the ultimate outcome and the costs associated with litigation are inherently uncertain and difficult to predict, as of the date hereof, the Company does not believe that any of its pending legal proceedings, most of which are covered by insurance, will have a material effect on the Company’s business, financial condition, results of operations, or cash flows. However, a significant increase in the number of these claims or an increase in uninsured amounts owed under successful claims could materially and adversely affect the Company’s business, financial condition, results of operations, or cash flows.
On April 27, 2022, the Company was named as a defendant in Hamman et al. v. Cava Group, Inc. in the U.S. District Court for the Southern District of California, which alleged that certain of our products were unfit for human consumption due to the packaging containing allegedly heightened levels of organic fluorine and unsafe per- and polyfluoroalkyl substances (“PFAS”), and that consumers were misled by certain marketing claims asserted by us regarding the health and sustainability of our products. Plaintiffs sought, among other relief, compensatory damages in an unspecified amount and medical monitoring. The Company settled the matter and the action was dismissed with prejudice on April 15, 2024.
On October 12, 2023, the Company was named as a defendant in GMO Free USA d/b/a Toxin Free USA v. Cava Group, Inc. in the Superior Court of the District of Columbia Civil Division, which alleged that we used unhealthy and unsustainable PFAS in our packaging, that our products contained synthetic biocides, and that our “healthy” and “sustainable” marketing claims constituted false and deceptive advertising. Plaintiffs sought declaratory and injunctive relief with respect to refraining from using or sourcing packaging containing PFAS and adding certain product warnings, as well as payment of the plaintiffs’ attorney’s fees. The Company settled the matter and the action was dismissed with prejudice on April 16, 2024.
In connection to the aforementioned Hamman matter, Travelers Property Casualty Company of America et al v. Cava Group, Inc. was filed on September 21, 2022 in the Superior Court of the State of California, County of Orange and subsequently transferred to the U.S. District Court for the District of Columbia on February 13, 2024. Plaintiff sought a declaratory judgment that it was not liable for insurance coverage in relation to the allegations asserted in the Hamman complaint related to PFAS, as well as recoupment of the Company’s legal costs in the Hamman action. The Company settled the matter and the action was dismissed with prejudice on April 17, 2024.
The accompanying unaudited condensed consolidated financial statements include an immaterial expense for the matters above.
v3.24.2.u1
EQUITY-BASED COMPENSATION
 6 Months Ended
Jul. 14, 2024
Share-Based Payment Arrangement [Abstract]  
EQUITY-BASED COMPENSATION EQUITY-BASED COMPENSATION
The Company recognized equity-based compensation expense (including applicable payroll taxes) of $3.6 million and $8.7 million during the twelve and twenty-eight weeks ended July 14, 2024, and $1.8 million and $3.0 million during the twelve and twenty-eight weeks ended July 9, 2023, respectively, related to its equity incentive plans and employee stock purchase plan, recorded within general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations.
A summary of the Company’s stock option activity is as follows:
Weighted Average
(in thousands, except per share amounts)Number Of OptionsExercise PriceRemaining Contractual Term (Years)Aggregate Intrinsic Value
Outstanding - December 31, 20233,078 $11.45 6.8$97,054 
Granted7 47.84 
Exercised(66)3.45 
Forfeited or expired(28)16.84 
Outstanding - July 14, 20242,991 $11.66 6.3$217,091 
Exercisable - July 14, 20241,770 $7.35 4.6
Vested and expected to vest - July 14, 20242,991 $11.66 6.3$217,091 
As of July 14, 2024, unrecognized compensation expense related to option awards was $10.5 million, which is expected to be recognized over a weighted-average period of 3.4 years.
A summary of the Company’s restricted stock unit (“RSU”) activity is as follows:
(in thousands, except per share amounts)Number of UnitsWeighted-Average Grant Date Fair ValueAggregate Intrinsic Value
Non-vested - December 31, 20232,653 $12.69 $113,985 
Granted34 63.24 
Vested(779)11.38 
Forfeited(105)15.12 
Non-vested - July 14, 20241,803 $14.07 $151,931 
As of July 14, 2024, unrecognized compensation expense related to RSU awards was $23.1 million, which is expected to be recognized over a weighted-average period of 2.9 years.
v3.24.2.u1
EARNINGS PER SHARE
 6 Months Ended
Jul. 14, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic earnings per share is calculated by dividing net income by the weighted average shares outstanding during the period. Diluted earnings per share is calculated by adjusting the weighted average shares outstanding for the dilutive effect of outstanding equity awards for the period using the treasury-stock method.
The following table sets forth the computation of earnings per common share:
Twelve Weeks EndedTwenty-Eight Weeks Ended
(in thousands, except per share amounts)July 14,
2024		July 9,
2023		July 14,
2024		July 9,
2023
Net income$19,741 $6,539 $33,734 $4,398 
Weighted-average shares outstanding:
Basic114,130 28,366 114,040 13,098 
Dilutive awards4,161 2,913 4,048 2,114 
Diluted118,29131,279118,088 15,212
Earnings per common share:
Basic$0.17 $0.23 $0.30 $0.34 
Diluted$0.17 $0.21 $0.29 $0.29 
The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted earnings per share as their impact would have been anti-dilutive:
Twelve Weeks EndedTwenty-Eight Weeks Ended
(in thousands)July 14,
2024		July 9,
2023		July 14,
2024		July 9,
2023
Options to purchase common stock— — 2 — 
Time-based vesting restricted stock units3 — 2 — 
Total common stock equivalents3 — 4 — 
v3.24.2.u1
SEGMENT REPORTING
 6 Months Ended
Jul. 14, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The CODM reviews segment performance and allocates resources based upon restaurant level profit, which is defined as segment revenues less food, beverage, and packaging, labor, occupancy, and other operating expenses. All segment revenue is earned in the United States, and all intersegment revenues have been eliminated. Sales from external customers are derived principally from sales of food, beverage, and CPG. The Company does not rely on any major customers as sources of sales. As the CODM is not provided with asset information by segment, assets are reported only on a consolidated basis. As described in Note 1 (Nature of Operations and Basis of Presentation), the Company no longer operates any Zoes Kitchen locations as of March 2, 2023. Other includes the Company’s CPG sales from CAVA Foods.
Financial information for the Company’s reportable segments was as follows:
Twelve Weeks EndedTwenty-Eight Weeks Ended
(in thousands)July 14,
2024		July 9,
2023		July 14,
2024		July 9,
2023
Revenue
CAVA$231,384 $171,089 $487,674 $367,850 
Zoes Kitchen— — — 3,867 
Other2,111 1,805 4,827 4,260 
Total revenue233,495 172,894 492,501 375,977 
Restaurant operating expenses (1)
CAVA170,119 126,473 361,793 273,251 
Zoes Kitchen— — — 4,044 
Other1,016 990 2,982 2,687 
Total restaurant operating expenses171,135 127,463 364,775 279,982 
Restaurant-level profit (loss)
CAVA61,265 44,616 125,881 94,599 
Zoes Kitchen— — — (177)
Other1,095 815 1,845 1,573 
Total restaurant-level profit62,360 45,431 127,726 95,995 
Reconciliation of restaurant-level profit to income before income taxes:
General and administrative expenses28,281 23,321 62,121 52,345 
Depreciation and amortization13,733 10,709 31,055 23,568 
Restructuring and other costs70 1,853 352 4,068 
Pre-opening costs3,302 3,400 6,681 9,399 
Impairment and asset disposal costs830 386 2,120 3,105 
Interest income, net(3,824)(699)(8,738)(674)
Other income, net(60)(118)(138)(292)
Income before income taxes$20,028 $6,579 $34,273 $4,476 
__________________
(1)    Restaurant operating expenses consist of food, beverage, and packaging (excluding depreciation and amortization), labor, occupancy, and other operating expenses.
v3.24.2.u1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 14, 2024
Jul. 09, 2023
Jul. 14, 2024
Jul. 09, 2023
Pay vs Performance Disclosure        
Net Income (Loss) $ 19,741 $ 6,539 $ 33,734 $ 4,398
v3.24.2.u1
Insider Trading Arrangements
 3 Months Ended
Jul. 14, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.2.u1
NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Policies)
 6 Months Ended
Jul. 14, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Interim Financial Statements
Interim Financial Statements—The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles and practices of the United States of America (“GAAP”) for interim financial information. Certain information and footnote disclosures normally included in annual financial statements presented in accordance with GAAP have been omitted pursuant to rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the results for interim periods have been included.
The unaudited interim financial information should be read in conjunction with the audited consolidated financial statements included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2023. Interim results of operations are not necessarily indicative of the results that may be achieved for the full year.
Recently Issued Accounting Standards
Recently Issued Accounting Standards—In November 2023, the Financial Accounting Standards Board (“FASB”), issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure through enhanced disclosures about significant segment expenses. The amendment is effective for fiscal years beginning after December 15, 2023 and for interim periods within fiscal year beginning after December 15, 2024 and early adoption is permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact of adopting this ASU on its disclosures.
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which improves income tax disclosures through enhanced disaggregation within the rate reconciliation table and disaggregation of income taxes paid by jurisdiction. The amendment is effective for fiscal years beginning after December 15, 2024 and early adoption is permitted. The amendments should be applied on a prospective basis, however, retrospective application is permitted. The Company is currently evaluating the impact of adopting this ASU on its disclosures.
The Company reviewed all other recently issued accounting standards and determined they were either not applicable or not expected to have a material impact on the Company’s financial position or results from operations.
JOBS Act Election
JOBS Act Election—In April 2012, the JOBS Act was enacted. Section 107(b) of the JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an emerging growth company can delay adoption of certain accounting standards until those standards would apply to private companies. The Company has elected to take advantage of the extended transition period to comply with new or revised accounting standards and to adopt certain of the reduced disclosure requirements available to emerging growth companies. As a result of the accounting standards election, the Company will not be subject to the same implementation timing for new or revised accounting standards as other public companies that are not emerging
growth companies and, as a result, the Company’s financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates.
Assets and Liabilities Measured at Fair Value on a Recurring Basis/Non-recurring Basis
Assets and Liabilities Measured at Fair Value on a Recurring Basis—The carrying amounts of the Company’s financial instruments, which include cash and cash equivalents, accounts receivable, accounts payable, and other accrued expenses, approximate their fair values due to their short maturities.
Assets and Liabilities Measured at Fair Value on a Non-recurring Basis—Assets recognized or disclosed at fair value in the accompanying unaudited condensed consolidated financial statements on a nonrecurring basis may include items such as property and equipment, net, operating lease assets, goodwill, and intangible assets, net. These assets are measured at fair value whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
v3.24.2.u1
REVENUE (Tables)
 6 Months Ended
Jul. 14, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The Company’s revenue was as follows:
Twelve Weeks EndedTwenty-Eight Weeks Ended
(in thousands)July 14,
2024		July 9,
2023		July 14,
2024		July 9,
2023
Restaurant revenue$231,384 $171,089 $487,674 $371,717 
CPG revenue and other2,111 1,805 4,827 4,260 
Revenue$233,495 $172,894 $492,501 $375,977 
v3.24.2.u1
PROPERTY AND EQUIPMENT, NET (Tables)
 6 Months Ended
Jul. 14, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
The following table presents the Company’s property and equipment, net:
(in thousands)July 14,
2024		December 31,
2023
Land$600 $600 
Building24,264 — 
Leasehold improvements302,426 268,245 
Equipment and other101,042 79,268 
Furniture and fixtures20,321 19,694 
Computer hardware and software50,699 46,437 
Construction in progress25,383 58,501 
Total property and equipment, gross524,735 472,745 
Less accumulated depreciation(169,721)(142,015)
Total property and equipment, net$355,014 $330,730 
v3.24.2.u1
ACCRUED EXPENSES AND OTHER (Tables)
 6 Months Ended
Jul. 14, 2024
Payables and Accruals [Abstract]  
Schedule of Accrued Liabilities
The following table presents the Company’s accrued expenses and other:
(in thousands)July 14,
2024		December 31,
2023
Accrued payroll and payroll taxes$23,521 $23,370 
Accrued capital purchases6,164 7,935 
Sales and use tax payable8,277 3,807 
Gift card and loyalty liabilities4,357 4,096 
Other accrued expenses21,223 20,011 
Total accrued expenses and other$63,542 $59,219 
v3.24.2.u1
LEASES (Tables)
 6 Months Ended
Jul. 14, 2024
Leases [Abstract]  
Supplemental cash flow information related to leases
Supplemental disclosures of cash flow information related to leases were as follows:
Twelve Weeks EndedTwenty-Eight Weeks Ended
(in thousands)July 14,
2024		July 9,
2023		July 14,
2024		July 9,
2023
Cash paid for operating lease liabilities$14,134 $11,689 $28,410 $23,153 
Operating lease assets obtained in exchange for operating lease liabilities13,866 20,051 33,397 33,884 
Derecognition of operating lease assets due to termination or impairment— — 109 2,786 
v3.24.2.u1
EQUITY-BASED COMPENSATION (Tables)
 6 Months Ended
Jul. 14, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Options Roll Forward
A summary of the Company’s stock option activity is as follows:
Weighted Average
(in thousands, except per share amounts)Number Of OptionsExercise PriceRemaining Contractual Term (Years)Aggregate Intrinsic Value
Outstanding - December 31, 20233,078 $11.45 6.8$97,054 
Granted7 47.84 
Exercised(66)3.45 
Forfeited or expired(28)16.84 
Outstanding - July 14, 20242,991 $11.66 6.3$217,091 
Exercisable - July 14, 20241,770 $7.35 4.6
Vested and expected to vest - July 14, 20242,991 $11.66 6.3$217,091 
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
A summary of the Company’s restricted stock unit (“RSU”) activity is as follows:
(in thousands, except per share amounts)Number of UnitsWeighted-Average Grant Date Fair ValueAggregate Intrinsic Value
Non-vested - December 31, 20232,653 $12.69 $113,985 
Granted34 63.24 
Vested(779)11.38 
Forfeited(105)15.12 
Non-vested - July 14, 20241,803 $14.07 $151,931 
v3.24.2.u1
EARNINGS PER SHARE (Tables)
 6 Months Ended
Jul. 14, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table sets forth the computation of earnings per common share:
Twelve Weeks EndedTwenty-Eight Weeks Ended
(in thousands, except per share amounts)July 14,
2024		July 9,
2023		July 14,
2024		July 9,
2023
Net income$19,741 $6,539 $33,734 $4,398 
Weighted-average shares outstanding:
Basic114,130 28,366 114,040 13,098 
Dilutive awards4,161 2,913 4,048 2,114 
Diluted118,29131,279118,088 15,212
Earnings per common share:
Basic$0.17 $0.23 $0.30 $0.34 
Diluted$0.17 $0.21 $0.29 $0.29 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted earnings per share as their impact would have been anti-dilutive:
Twelve Weeks EndedTwenty-Eight Weeks Ended
(in thousands)July 14,
2024		July 9,
2023		July 14,
2024		July 9,
2023
Options to purchase common stock— — 2 — 
Time-based vesting restricted stock units3 — 2 — 
Total common stock equivalents3 — 4 — 
v3.24.2.u1
SEGMENT REPORTING (Tables)
 6 Months Ended
Jul. 14, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Financial information for the Company’s reportable segments was as follows:
Twelve Weeks EndedTwenty-Eight Weeks Ended
(in thousands)July 14,
2024		July 9,
2023		July 14,
2024		July 9,
2023
Revenue
CAVA$231,384 $171,089 $487,674 $367,850 
Zoes Kitchen— — — 3,867 
Other2,111 1,805 4,827 4,260 
Total revenue233,495 172,894 492,501 375,977 
Restaurant operating expenses (1)
CAVA170,119 126,473 361,793 273,251 
Zoes Kitchen— — — 4,044 
Other1,016 990 2,982 2,687 
Total restaurant operating expenses171,135 127,463 364,775 279,982 
Restaurant-level profit (loss)
CAVA61,265 44,616 125,881 94,599 
Zoes Kitchen— — — (177)
Other1,095 815 1,845 1,573 
Total restaurant-level profit62,360 45,431 127,726 95,995 
Reconciliation of restaurant-level profit to income before income taxes:
General and administrative expenses28,281 23,321 62,121 52,345 
Depreciation and amortization13,733 10,709 31,055 23,568 
Restructuring and other costs70 1,853 352 4,068 
Pre-opening costs3,302 3,400 6,681 9,399 
Impairment and asset disposal costs830 386 2,120 3,105 
Interest income, net(3,824)(699)(8,738)(674)
Other income, net(60)(118)(138)(292)
Income before income taxes$20,028 $6,579 $34,273 $4,476 
__________________
(1)    Restaurant operating expenses consist of food, beverage, and packaging (excluding depreciation and amortization), labor, occupancy, and other operating expenses.
v3.24.2.u1
NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 20, 2023
USD ($)
$ / shares
shares
Jul. 09, 2023
shares
Jul. 14, 2024
USD ($)
segment
state
restaurant
Jul. 09, 2023
USD ($)
shares
Description Of Business And Significant Accounting Policies [Line Items]        
Number of restaurants | restaurant     341  
Number of states in which entity operates | state     25  
Number of reportable segments | segment     2  
Underwriting discounts and commissions     $ 22,800  
Offering expenses     0 $ 1,922
Proceeds from IPO     $ 0 $ 342,604
Conversion of preferred stock (in shares) | shares 95,200,000 95,204,000   95,204,000
IPO        
Description Of Business And Significant Accounting Policies [Line Items]        
Number of shares issued in IPO (in shares) | shares 16,600,000      
Sale of stock (in usd per share) | $ / shares $ 22.00      
Underwriting discounts and commissions $ 22,800      
Offering expenses 6,500      
Proceeds from IPO $ 336,100      
Over-Allotment Option        
Description Of Business And Significant Accounting Policies [Line Items]        
Number of shares issued in IPO (in shares) | shares 2,200,000      
v3.24.2.u1
REVENUE - Schedule of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 14, 2024
Jul. 09, 2023
Jul. 14, 2024
Jul. 09, 2023
Disaggregation of Revenue [Line Items]        
Total revenue $ 233,495 $ 172,894 $ 492,501 $ 375,977
Restaurant revenue        
Disaggregation of Revenue [Line Items]        
Total revenue 231,384 171,089 487,674 371,717
CPG revenue and other        
Disaggregation of Revenue [Line Items]        
Total revenue $ 2,111 $ 1,805 $ 4,827 $ 4,260
v3.24.2.u1
REVENUE - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jul. 14, 2024
Jul. 09, 2023
Jul. 14, 2024
Jul. 09, 2023
Revenue from Contract with Customer [Abstract]        
Gift card revenue recognized $ 0.4 $ 0.1 $ 1.2 $ 0.4
v3.24.2.u1
FAIR VALUE (Details) - USD ($)
$ in Thousands
 3 Months Ended 4 Months Ended 6 Months Ended
Jul. 14, 2024
Jul. 09, 2023
Apr. 16, 2023
Jul. 14, 2024
Jul. 09, 2023
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Operating lease, impairment loss $ 0 $ 0   $ 109 $ 2,786  
Operating lease assets $ 304,926     $ 304,926   $ 289,451
Fair Value, Nonrecurring | Fair Value, Inputs, Level 3            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Operating lease, impairment loss     $ 700      
Operating lease assets   $ 400     $ 400  
v3.24.2.u1
PROPERTY AND EQUIPMENT, NET - Schedule of PP&E (Details) - USD ($)
$ in Thousands
Jul. 14, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross $ 524,735 $ 472,745
Less accumulated depreciation (169,721) (142,015)
Total property and equipment, net 355,014 330,730
Land    
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross 600 600
Building    
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross 24,264 0
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross 302,426 268,245
Equipment and other    
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross 101,042 79,268
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross 20,321 19,694
Computer hardware and software    
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross 50,699 46,437
Construction in progress    
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross $ 25,383 $ 58,501
v3.24.2.u1
ACCRUED EXPENSES AND OTHER (Details) - USD ($)
$ in Thousands
Jul. 14, 2024
Dec. 31, 2023
Payables and Accruals [Abstract]    
Accrued payroll and payroll taxes $ 23,521 $ 23,370
Accrued capital purchases 6,164 7,935
Sales and use tax payable 8,277 3,807
Gift card and loyalty liabilities 4,357 4,096
Other accrued expenses 21,223 20,011
Total accrued expenses and other $ 63,542 $ 59,219
v3.24.2.u1
DEBT - Narrative (Details)
 6 Months Ended
Jul. 14, 2024
USD ($)
2022 Credit Facility | Line of Credit  
Line of Credit Facility [Line Items]  
Debt instrument term (in years) 5 years
Borrowings outstanding $ 0
2022 Credit Facility | Line of Credit | Minimum  
Line of Credit Facility [Line Items]  
Basis spread (in percentage) 1.50%
2022 Credit Facility | Line of Credit | Maximum  
Line of Credit Facility [Line Items]  
Basis spread (in percentage) 2.50%
Revolving Credit Facility | 2022 Credit Facility | Line of Credit  
Line of Credit Facility [Line Items]  
Line of credit, maximum borrowing capacity $ 74,300,000
Letter of Credit  
Line of Credit Facility [Line Items]  
Aggregate amount of letters of credit 700,000
Secured Debt | Delayed Draw Facility | Line of Credit  
Line of Credit Facility [Line Items]  
Line of credit, maximum borrowing capacity $ 24,000,000.0
Secured Debt | Delayed Draw Facility | Line of Credit | Minimum  
Line of Credit Facility [Line Items]  
Ticking fee (in percent) 0.20%
Secured Debt | Delayed Draw Facility | Line of Credit | Maximum  
Line of Credit Facility [Line Items]  
Ticking fee (in percent) 0.35%
v3.24.2.u1
LEASES - Narrative (Details)
Jul. 14, 2024
Leases [Abstract]  
Term of contract (in years) 10 years
Renewal term (in years) 5 years
v3.24.2.u1
LEASES - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 14, 2024
Jul. 09, 2023
Jul. 14, 2024
Jul. 09, 2023
Leases [Abstract]        
Cash paid for operating lease liabilities $ 14,134 $ 11,689 $ 28,410 $ 23,153
Operating lease assets obtained in exchange for operating lease liabilities 13,866 20,051 33,397 33,884
Derecognition of operating lease assets due to termination or impairment $ 0 $ 0 $ 109 $ 2,786
v3.24.2.u1
COMMITMENTS AND CONTINGENCIES (Details)
$ in Millions
Jul. 14, 2024
USD ($)
letters_of_credit
Dec. 31, 2023
letters_of_credit
Other Commitments [Line Items]    
Number of irrevocable letters of credit | letters_of_credit 4 4
Letter of Credit    
Other Commitments [Line Items]    
Aggregate amount of letters of credit | $ $ 0.7  
v3.24.2.u1
EQUITY-BASED COMPENSATION - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jul. 14, 2024
Jul. 09, 2023
Jul. 14, 2024
Jul. 09, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Compensation expense $ 3.6 $ 1.8 $ 8.7 $ 3.0
Options to purchase common stock        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Unrecognized compensation costs related to option awards 10.5   $ 10.5  
Vesting period (in years)     3 years 4 months 24 days  
Time-based vesting restricted stock units        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Vesting period (in years)     2 years 10 months 24 days  
Unrecognized compensation expense related to RSUs $ 23.1   $ 23.1  
v3.24.2.u1
EQUITY-BASED COMPENSATION - Schedule of Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended 12 Months Ended
Jul. 14, 2024
Dec. 31, 2023
Number Of Options    
Beginning Balance (in shares) 3,078,000  
Granted (in shares) 7,000  
Exercised (in shares) (66,000)  
Forfeited or expired (in shares) (28,000)  
Ending Balance (in shares) 2,991,000 3,078,000
Exercise Price    
Options outstanding, Weighted average exercise price per share - Beginning Balance (in $ per share) $ 11.45  
Options granted, Weighted average exercise price per share (in $ per share) 47.84  
Options exercised, Weighted average exercise price per share (in $ per share) 3.45  
Options forfeited or expired, Weighted average exercise price per share (in $ per share) 16.84  
Options outstanding, Weighted average exercise price per share - Ending Balance (in $ per share) $ 11.66 $ 11.45
Stock Options Additional Disclosures    
Options outstanding, Weighted average remaining contractual term (in years) 6 years 3 months 18 days 6 years 9 months 18 days
Options outstanding, Aggregate intrinsic value (in USD) $ 217,091 $ 97,054
Options exercisable, Number of options (in shares) 1,770,000  
Options exercisable, Weighted average exercise price per share (in $ per share) $ 7.35  
Options exercisable, Weighted average remaining contractual term (in years) 4 years 7 months 6 days  
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest [Abstract]    
Options vested and expected to vest (in shares) 2,991,000  
Options vested and expected to vest, Weighted average exercise price per share (in $ per share) $ 11.66  
Options vested and expected to vest, Weighted average remaining contractual term (in years) 6 years 3 months 18 days  
Options vested and expected to vest, Aggregate intrinsic value (in USD) $ 217,091  
v3.24.2.u1
EQUITY-BASED COMPENSATION - Schedule of Restricted Stock (Details) - Time-based vesting restricted stock units - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended
Jul. 14, 2024
Dec. 31, 2023
Unvested Restricted Stock Outstanding    
Beginning balance (in shares) 2,653,000  
Granted (in shares) 34,000  
Vested (in shares) (779,000)  
Forfeited (in shares) (105,000)  
Ending balance (in shares) 1,803,000  
Weighted Average Grant Date Fair Value    
Outstanding, Weighted average grant date fair value, Beginning Balance ($ per share) $ 12.69  
Granted, Weighted average grant date fair value ($ per share) 63.24  
Vested, Weighted average grant date fair value ($ per share) 11.38  
Forfeited, Weighted average grant date fair value ($ per share) 15.12  
Outstanding, Weighted average grant date fair value, Ending Balance ($ per share) $ 14.07  
Aggregate Intrinsic Value $ 151,931 $ 113,985
v3.24.2.u1
EARNINGS PER SHARE - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 14, 2024
Jul. 09, 2023
Jul. 14, 2024
Jul. 09, 2023
Earnings Per Share [Abstract]        
Net income $ 19,741 $ 6,539 $ 33,734 $ 4,398
Weighted-average shares outstanding:        
Basic (in shares) 114,130 28,366 114,040 13,098
Dilutive awards (in shares) 4,161 2,913 4,048 2,114
Diluted (in shares) 118,291 31,279 118,088 15,212
Earnings per common share:        
Basic (in usd per share) $ 0.17 $ 0.23 $ 0.30 $ 0.34
Diluted (in usd per share) $ 0.17 $ 0.21 $ 0.29 $ 0.29
v3.24.2.u1
EARNINGS PER SHARE - Schedule of Antidilutive Shares (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Jul. 14, 2024
Jul. 09, 2023
Jul. 14, 2024
Jul. 09, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total common stock equivalents (in shares) 3 0 4 0
Options to purchase common stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total common stock equivalents (in shares) 0 0 2 0
Time-based vesting restricted stock units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total common stock equivalents (in shares) 3 0 2 0
v3.24.2.u1
SEGMENT REPORTING (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 14, 2024
Jul. 09, 2023
Jul. 14, 2024
Jul. 09, 2023
Segment Reporting Information [Line Items]        
Total revenue $ 233,495 $ 172,894 $ 492,501 $ 375,977
Total restaurant operating expenses 171,135 127,463 364,775 279,982
Total restaurant-level profit 62,360 45,431 127,726 95,995
Reconciliation of restaurant-level profit to income before income taxes:        
General and administrative expenses 28,281 23,321 62,121 52,345
Depreciation and amortization 13,733 10,709 31,055 23,568
Restructuring and other costs 70 1,853 352 4,068
Pre-opening costs 3,302 3,400 6,681 9,399
Impairment and asset disposal costs 830 386 2,120 3,105
Interest income, net (3,824) (699) (8,738) (674)
Other income, net (60) (118) (138) (292)
Income before income taxes 20,028 6,579 34,273 4,476
Segment Reconciling Items        
Segment Reporting Information [Line Items]        
Total revenue 2,111 1,805 4,827 4,260
Total restaurant operating expenses 1,016 990 2,982 2,687
Total restaurant-level profit 1,095 815 1,845 1,573
CAVA | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenue 231,384 171,089 487,674 367,850
Total restaurant operating expenses 170,119 126,473 361,793 273,251
Total restaurant-level profit 61,265 44,616 125,881 94,599
Zoes Kitchen | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenue 0 0 0 3,867
Total restaurant operating expenses 0 0 0 4,044
Total restaurant-level profit $ 0 $ 0 $ 0 $ (177)