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Cava Group Rises, Lowe's Drops, TJX Gains After Hiking Sales Outlook
Description
On this episode of Stock Movers:
- Cava Group (CAVA) shares rise. Cava Group Inc. raised its annual sales outlook after diners flocked to its restaurants in the first quarter, defying the crunch in consumer budgets. The Mediterranean chain expects same-store sales to rise as much as 6.5%, up from an earlier forecast of 5% growth at most.
- Lowe's (LOW) shares drop. Lowe’s Cos. reported sales growth in the first quarter that just missed estimates, with comparable sales rising 0.6% during the period. The company kept its full-year outlook unchanged, with earnings per share expected to be between $12.25 to $12.75, and adjusted earnings per share of $3.03 topping Wall Street expectations.
- TJX (TJX) shares gain. TJX Cos. raised its sales growth expectations for the year as cautious shoppers spend on lower priced goods at the company's discount chains. The company said comparable sales from its stores and e-commerce sites are now seen expanding as much as 4%, up from previous guidance for an increase of as much as 3%.
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