Investor appetite for Cava and Sweetgreen has faded since its peak last year

Enthusiasm for premium fast-casual options, which are usually more expensive than fast food, has waned as some cash-strapped consumers have opted for value options.

That’s been reflected in the appetite of investors, too. The valuations of both Cava and Sweetgreen have come under pressure since their peak last year, falling 21% and 58% since the start of 2025, respectively. Sweetgreen actually reported that same-store sales had fallen 3.1% in its most recent quarter — a worrying decline for a stock that’s meant to be in growth mode.

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