No position, but since I saw the share price recently, I decided to get lunch there on Sunday. Paid $13 for some chicken and rice bowl and signed up for the rewards program. I love Chipotle and I frequently hear about CAVA being the next Chipotle. A few points:
- The bowl was good but I'm not sure if it's worth an extra $2 to $3 over my sofritas bowl that I usually get at Chipotle. In my city, a Chipotle bowl goes for about $10 to $11.
- I don't like CAVA's rewards program. Points expire within 4 months, and you need at least 880 points to redeem said points for a discount. You basically need to eat there at least once or twice a month for the rewards to be worth it. Meanwhile, at Chipotle, you only need to eat there once every six months to keep your reward points active and you can more easily hoard them for an entree.
The stock is also much more expensive than Chipotle. They are priced in, I think. I'll have CAVA on occasion but I think I'll stick with Chipotle when I'm out and about and want something substantial and familiar.
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