Brand says innovation to continue after launch of footlong snacks and impending sale to Roark
Subway restaurants had 2023 same-store sales increases of 5.9% in North America and 6.4% globally, the company said Thursday.
The company, which has headquarters in both Miami and Shelton, Conn., also said the launch of a footlong snack category in mid-January had yielded 3.5 million Sidekicks sales in its first two weeks.
"Sidekicks are a big hit with guests and the latest proof that Subway is a remarkably different brand than it was when we began our transformation journey three years ago — and we’re not slowing down,” said John Chidsey, Subway’s CEO, in a statement. “Our consistent positive sales results and the renewed enthusiasm from guests around the world is a true testament to our team’s commitment and the changes we’ve made across every part of our business.”
Privately held Subway, which reached an agreement to sell to affiliates of Atlanta-based Roark Capital Group last August, released some sales figures for 2023 as compared to 2022. The company said same-store sales at its top 75% of North America locations (about 17,000 restaurants) were up 10.1% in 2023.
The company reported double-digit growth in digital sales around the world, with 21.8% increase in North America.
More than 18,000 global locations had been updated with Subway’s contemporary image, including more than 12,000 in North America, the company said, adding that 4,000 remodels were in that region in 2023.
Subway has nearly 37,000 restaurants in more than 100 countries.
While emphasizing the January introduction of the footlong snack category, which featured Auntie Anne’s pretzels and Cinnabon churros, Subway also touted its 2023 introduction of meat slicers to U.S. restaurants and the relaunch of its Subway MVP Rewards loyalty program.
This year, the company said it was planning to enhance the in-restaurant, online and in-app experience.
“Smart growth and international expansion will also remain key priorities as the brand works to ensure restaurants are in the right location, image and format, and operated by the right franchisees,” the company said in a press release. “Efforts include strategically opening new restaurants, including non-traditional locations, modernizing the image of all Subway restaurants and partnering with franchisees — such as multi-unit owners and master franchisees — who have the operating expertise, resources and passion to grow with the Subway brand.”
Contact Ron Ruggless at [email protected]
Follow him on X/Twitter: @RonRuggless
Read more about:
Subway
