Cava trims sales outlook amid heavy competition. But it’s wary of diving into the discounting fray.

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Mediterranean fast-casual chain Cava Group Inc. on Tuesday reported third-quarter results that missed Wall Street’s estimates, as younger and middle-income consumers struggle with higher costs and competition remains stiff.

Cava shares

CAVA fell about 10% after hours on Tuesday.

This post was originally published on Market Watch

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