HomeIndustriesSubway Reports 12.1% Increase in Global Same-Store Sales

Subway Reports 12.1% Increase in Global Same-Store Sales

Fast-food chain Subway reported on Monday that its global same-store sales increased by 12% in the first quarter of 2023. The company credited the jump to its continued effort to bring back customers to its stores with promotional campaigns and restaurant remodels.

Subway’s same-store sales in North America saw a jump of 11.7% compared to the same period in 2022. Digital sales were even more encouraging, rising 21.2%. This helped the company maintain its streak of positive sales growth, which now extended to nine straight quarters.

“With strong sales momentum across our restaurants and a refreshed focus on strategic brand growth, there has never been a more exciting time to be part of the Subway brand, “said CEO John Chidsey in a press release.

The sales growth will go a long way in Subway’s continued efforts to find a buyer. The company has been looking to sell itself for a while now, and according to Chidsey’s recent comments, the deal will come sooner than later.

Back in early April, The Wall Street Journal reported that Subway is valuing itself at $10 billion. While there is uncertainty about whether the company will get its asking price, there are more than 10 buyers currently engaged in the bidding process. A sale process is expected to wrap up at some point in May. 

Apple on Track to Close at Record High

Apple Inc. is on track to close at a record high after experiencing ahead of its most notable product launch event over the last...

Global Airlines More Than Double 2023 Profit Outlook

Global airlines more than doubled their 2023 industry profit forecast on Monday from $4.7 billion to $9.8 billion, spurred by a rise in travel...

Stocks Remain Stable as Oil Output Cut Announced

U.S. stocks remained stable on Monday as positive payroll data indicated that the S&P 500 is on the verge of entering a bull market....