Restaurant Chain Cava Cuts Sales Forecast Again on Uneven Demand

Mediterranean restaurant chain Cava Group on Tuesday cut its annual same-store sales growth forecast for the second time this year, signaling sluggish spending on dining out by budget-conscious customers.

Shares of the company were down 4% after the bell.

The company expects full-year same-restaurant sales to rise between 3% and 4%, down from its prior forecast of 4% to 6%.

Fast-casual brands such as Chipotle Mexican Grill and Cava have warned of margin pressures and slowing demand while fast-food chains such as Burger King and Domino's Pizza have gained from their focus on value-menu items...

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