CAVA Group (NYSE: CAVA) 2026 analysis covering AUV trajectory, restaurant-level margins, the Chipotle comparison, Mediterranean TAM, competitive threats from Sweetgreen and QSR giants, and whether the post-IPO premium is justified by execution.
Starbucks (SBUX) 2026 analysis: Brian Niccol's 'Back to Starbucks' plan mechanics, US SSSG transaction-count recovery, China Luckin structural competition, NLRB labor relations cost structure, and FCF-to-dividend coverage ratio. Position: gradually constructive with specific SSSG triggers.
Nike (NKE) 2026 analysis: DTC strategy reversal and gross margin dilution, wholesale channel restoration, Hoka and On Running competitive encroachment, China SSSG recovery pace under guochao pressure, and inventory normalization. Position: watchful/neutral with SSSG transaction-count triggers.