Cava jumps after upbeat quarterly results
BUZZ-Cava jumps after upbeat quarterly results ** Shares of restaurant chain Cava CAVA.N rise ~9% to $66.95 in extended trading
** Co beats Wall Street expectations for second-quarter sales and core profit, helped by strong demand for its affordable Mediterranean food
** Q2 same-restaurant sales gains 9%, topping analysts' estimates of a 7.63% rise, guest traffic up 5.3%
** Co says it was hit by falling consumer sentiment towards dining out due to the Cyclosporiasis outbreak before sales rebounded, and adds that it was not impacted by the recent Salmonella outbreak
** However, maintains annual forecasts amid the recent food-safety concerns, macroeconomic environment and inflationary pressures, including higher gas prices
** Stock has fallen ~28% in the last 12 months
(Reporting by Neil J Kanatt in Bengaluru)