CAVA GROUP, INC.CAVA
CAVA GROUP, INC. Segments Disclosure
SEGMENT REPORTING
The Company’s operations are conducted as two operating segments: CAVA and CAVA Foods. CAVA includes the operations of all company-owned CAVA restaurants. CAVA Foods includes the production of dips, spreads, and certain dressing bases used in CAVA restaurants as well as sales from the Company’s CPG. Prior to completion of the conversion strategy described below, in fiscal 2023, the Company operated a third segment, Zoes Kitchen, which included the operations of all Zoes Kitchen locations. These segments were determined on the same basis that the Company’s Chief Executive Officer (“CEO”), who is the chief operating decision maker (“CODM”), manages, evaluates, and makes key decisions regarding the business. The CODM does not manage the Company on a consolidated basis. CAVA Foods and, in fiscal 2023, Zoes Kitchen are below quantitative thresholds for segment reporting purposes, resulting in CAVA being the Company’s one reportable segment for the periods covered by the consolidated financial statements. Other includes the Company’s CPG sales from CAVA Foods, and in fiscal 2023, the remaining activity of previously operated Zoes Kitchen locations.
Between 2019 and 2023, the Company completed a strategy of converting Zoes Kitchen restaurants into CAVA restaurants, with the last conversion restaurant opening on October 20, 2023, resulting in a total of 153 conversion restaurants. As of March 2, 2023, the Company no longer operates any Zoes Kitchen locations.
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. Restaurant-level profit is used to measure the segment’s profitability as corporate-level expenses are excluded from such measure. The CODM uses restaurant-level profit for each segment in the annual budget to make decisions about the allocation of resources, with the monitoring of actual results to determine appropriate changes to such allocation. All segment revenue is earned in the United States, and all intersegment revenues have been eliminated. Intersegment revenues represent the sale, from CAVA Foods to CAVA, of dips and spreads used in our restaurants. 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 does not review asset information by segment, assets are reported only on a consolidated basis.
The following table presents financial information about the Company’s reportable segment and includes reconciliations of reportable segment revenue to consolidated revenue and reportable segment restaurant-level profit to income before taxes for the fiscal years indicated:
| (in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| CAVA Revenue | $ | 1,169,286 | $ | 954,273 | $ | 717,060 | |||||||||||
| Reconciliation of reportable segment revenue to consolidated revenue: | |||||||||||||||||
Other revenue1 | 10,378 | 9,440 | 11,640 | ||||||||||||||
| Total consolidated revenue | $ | 1,179,664 | $ | 963,713 | $ | 728,700 | |||||||||||
| Significant CAVA segment expenses | |||||||||||||||||
| Food, beverage, and packaging | $ | 348,684 | $ | 279,741 | $ | 208,237 | |||||||||||
| Labor | 301,861 | 247,490 | 185,820 | ||||||||||||||
| Occupancy | 83,576 | 69,851 | 57,811 | ||||||||||||||
Other operating expenses2 | 150,121 | 119,078 | 87,704 | ||||||||||||||
| Total CAVA segment expenses | 884,242 | 716,160 | 539,572 | ||||||||||||||
| CAVA restaurant-level profit | 285,044 | 238,113 | 177,488 | ||||||||||||||
| Reconciliation of total reportable segment restaurant-level profit to income before income taxes: | |||||||||||||||||
Other non-reportable segment profit1 | (5,423) | (3,692) | (2,858) | ||||||||||||||
| General and administrative expenses | 137,462 | 120,500 | 101,491 | ||||||||||||||
| Depreciation and amortization | 73,661 | 60,355 | 47,433 | ||||||||||||||
| Restructuring and other costs | — | 580 | 6,080 | ||||||||||||||
| Pre-opening costs | 19,134 | 12,197 | 15,718 | ||||||||||||||
| Impairment and asset disposal costs | 4,925 | 5,055 | 4,899 | ||||||||||||||
| Interest income, net | (15,045) | (16,474) | (8,852) | ||||||||||||||
| Other income, net | (469) | (318) | (471) | ||||||||||||||
| Income before taxes | $ | 70,799 | $ | 59,910 | $ | 14,048 | |||||||||||
__________________
1 In fiscal 2025 and fiscal 2024, Other revenue and Other non-reportable segment profit include activity from the Company’s CAVA Foods operating segment. In fiscal 2023, Other revenue consists of $7.8 million from CAVA Foods and $3.9 million from the closed Zoes Kitchen operating segment. Other non-reportable segment profit in fiscal 2023 consists of $3.0 million from CAVA Foods and a $0.2 million loss from Zoes Kitchen.
2 Other operating expenses includes all other restaurant-level operating expenses, such as kitchen supplies, utilities, repairs and maintenance, travel costs, credit card and bank fees, recruiting, third-party delivery service fees, and marketing expenses.
Free Sentinel
Track for freeWant the next CAVA GROUP, INC. segments disclosure the moment it drops?
Set a Sentinel and we'll alert you the moment CAVA GROUP, INC.'s next filing hits EDGAR. No credit card, your email never gets sold.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 27, 2024 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.