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☆ Fast food feels more expensive than ever before, and people are sick of it. Here's why.
▼ + stars: | 2024-05-04 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Analysts say fast-food prices feel particularly painful because they're rising faster than grocery prices. Fast-food prices have been shooting upRestaurant prices are determined by "two major categories" — food costs and labor costs, Citi analyst Jon Tower told BI. Related storiesFast-food chains put up their menu prices to reflect the higher food costs and payrolls. AdvertisementGrocery inflation is coolingFast food seems particularly expensive right now because grocery inflation is cooling much more rapidly, analysts BI spoke to said. AdvertisementBut the inverse is also true — grocery stores benefit much more than restaurants when food inflation cools.

Persons: —, Jim Sanderson, Jon Tower, Sharon Zackfia, William Blair, Price, Danilo Gargiulo, Bernstein, Gargiulo, they've, Garguilo, Sara Senatore, Chad Frye Organizations: Analysts, Service, Northcoast Research, Citi, US Bureau of Labor Statistics, Bank of America Locations: Russia, Ukraine, California

☆ People are really annoyed about the price of fast food
▼ + stars: | 2024-04-20 | by ( Grace Dean | ) www.businessinsider.com time to read: +7 min

Fast food is getting more expensive, and Americans are annoyed about it. Diners told BI they're cutting back on how often they get fast food because of rising prices. AdvertisementBut cheaper fast food may be some way off. Experts say it could have a ripple effect on wages across the fast food industry nationwide, meaning that your favorite spots could become even pricier. The main reason Rodriguez gets fast food is the taste, he said.

Persons: —, Sara Senatore, Dunkin, Warren Colehour, Chad Frye, Artur Widak, Frye, Martin Jennings, it's, Chipotle, James R, Martin, Ben Heyworth, Burger King, He's, Del, Richard McConnell, Ricardo Rodriguez, Rodriguez Organizations: Service, Bank of America, McDonald's USA, Getty, Subway, Consumers, McDonald's Locations: Ukraine, McDonald's, Kentucky, California, Florida, Olive, Burger, Oregon

☆ Subway's about to become the latest chain that asks you: 'Is Pepsi OK?'
▼ + stars: | 2024-03-20 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Under a 10-year agreement, Subway will start selling drinks including Pepsi, Mountain Dew, Tropicana, and Lipton. Subway's US stores will start making the switch in January 2025. AdvertisementCoke fans, watch out — Subway is ditching the drinks supplier in favor of rival Pepsi in the US. Subway announced on Tuesday that it had signed a 10-year agreement to supply PepsiCo drinks at its US stores from the start of 2025. This means that as well as Pepsi, Subway customers will also be able to get other beverages such as Mountain Dew, Tropicana, Lipton, and Gatorade.

Persons: Lipton, —, Arby's, Culver's Organizations: Pepsi, Subway's, Service, . Subway, PepsiCo, Subway, Tropicana, Lipton, Gatorade, Cola, Restaurant Business, Coca, Business Locations: Canada, Germany, Netherlands

☆ This fast food chain is bigger than Subway and McDonald's in the UK, and it's famous for a food item many Americans have never heard of
▼ + stars: | 2024-03-07 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Greggs, a British bakery chain, has more locations than Subway and McDonald's. Greggs posted booming sales, which it credited to store openings, more evening trade, and its delivery business. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The bakery chain has close to 2,500 stores in the UK. The company just posted booming sales, with revenues up nearly 20% in 2023.

Persons: Greggs, It's, Piers Morgan, — Organizations: Service Locations: British, McDonald's, Newcastle, England

☆ A woman was charged $1,000 for a Subway sandwich. She says she's not been refunded and has struggled to afford groceries.
▼ + stars: | 2024-02-26 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +2 min

Read previewA woman was charged over $1,000 for a Subway sandwich, leaving her strapped for cash and struggling to feed her family, according to reports. For context, this far exceeds the typical costs of a footlong sandwich at Subway, which tends to cost between $6.50 and $12. Bishop told ABC 6 that the charge left her feeling "stressed, overwhelmed," and, at one point, she couldn't even afford groceries because her "account was negative." She told ABC 6 she tried this multiple times but to no avail. "I'm just trying to make ends meet at this point in time," Bishop told ABC 6.

Persons: —, Letitia Bishop, WSYC, Bishop, couldn't, I'm, Lee Anne Lanigan, Lanigan Organizations: Service, Subway, Oil, WSYC ABC, Business, ABC, Better Business Bureau Locations: Columbus , Ohio, Ohio

☆ For the 1st time in 7 years, Subway opened more stores than it closed
▼ + stars: | 2024-02-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

In 2023, for the first time since 2016, Subway opened more stores than it closed. Subway has closed thousands of stores, resulting in years of decline in net restaurant count. AdvertisementFor the first time since 2016, after years of store closures, Subway finally opened more sites than it shuttered. AdvertisementBut Subway has also been closing thousands of stores, resulting in years of net restaurant-count decline. Restaurant Business previously reported that Subway had closed more than 6,500 restaurants between 2015 and 2022.

Persons: —, Gerardo Mora, It's, Roark Capital, Jimmy John's, Dunkin, Roark, Anne's Organizations: Subway, Service, Business, . Subway, Getty, Subway Subway, North, American, Roark Locations: Mainland China, North America

☆ Your local Subway will no longer be allowed to reject digital coupons or avoid footlong sandwich deals
▼ + stars: | 2023-12-04 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

Subway franchisees have been able to opt out of deals made through the chain's app. Starting December 28, the chain is forcing franchisees to honor all digital deals. Subway appThe Subway app currently shows a deal for 50 % off a footlong sandwich when you buy one at full price. A Subway franchisee from California questioned the legality of forcing operators to accept low-margin deals via the app. The California franchisee said they honor digital deals to maintain good customer relationships.

Persons: Jimmy John's, —, we've, Roark, Subway's Organizations: Service, Business, Roark Capital, FTC, Subway, Federal Trade Commission, Politico Locations: California

☆ Fast food isn't cheap anymore
▼ + stars: | 2023-11-27 | by ( Nancy Luna | ) www.businessinsider.com time to read: +6 min

McDonald's menu prices are up about 10% this year. AdvertisementInflation may be slowing, but when it comes to skyrocketing fast-food prices, the damage is done — and there's no turning back. The Bureau of Labor Statistics reported that fast-food prices in October jumped 6.2% over the past 12 months. Nancy Luna/Business InsiderMore price hikes are on the horizonChipotle recently raised menu prices by 3% in October. Some are fuming over skyrocketing fast-food prices and expressing their concern on social-media platforms such as TikTok and Reddit .

Persons: That's, Chipotle, —, Tim Powell, Mark Kalinowski, Nancy Luna, McDonald's, Kalinowski, Chris Kempczinski, @xconmedia, Ian Borden, Borden Organizations: Service, Starbucks, Labor Statistics Locations: QSRs, California, Orange , California, Connecticut

☆ Subway's CEO eats at the chain 3 times a week. His favorite sandwich is the Turkey Cali Club.
▼ + stars: | 2023-10-04 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Subway CEO John Chidsey told the WSJ he eats at the chain three times a week. His favourite sandwiches are the Turkey Cali Club and its controversial tuna sub. John Chidsey, who's served as CEO of the sandwich chain since 2019, eats there about three times a week, he told The Wall Street Journal. Chidsey told The Journal that his favorite sandwich on Subway's menu is the Turkey Cali Club, which is made with turkey, bacon, mozzarella, smashed avocado, and salad and released as part of its menu overhaul. He told CNN in 2021 that his other favorite sub from the chain was its controversial tuna sandwich.

Persons: John Chidsey, —, who's, Chidsey, Fries, Chris Kempczinski, Andrew Puzder, Carl's Jr, Greg Brenneman Organizations: Turkey Cali Club, Service, Wall Street, CNN, Burger King Locations: Turkey, Miami

☆ I compared Jersey Mike's sandwiches to Subway's new deli-sliced subs. The contest was closer than I expected.
▼ + stars: | 2023-09-20 | by ( Nancy Luna | ) www.businessinsider.com time to read: +1 min

This summer, Subway introduced a new line of meat and cheese-heavy sandwiches dubbed Deli Heroes. We compared the subs to equivalent sandwiches at Jersey Mike's. Jersey Mike's hand-slices its meat and cheeses before customers, so comparing the two brands seemed like a legit mano a mano challenge. Still, some might think it's an unfair matchup to compare Jersey Mike's to Subway, as my friend suggested. All subs were purchased at restaurants in Orange, California, so prices may vary elsewhere.

Persons: munching Organizations: Service, Subway, Jersey Locations: Jersey, Wall, Silicon, Orange , California

☆ Subway CEO John Chidsey: Consumers like convenience and speed with quick service
▼ + stars: | 2023-09-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSubway CEO John Chidsey: Consumers like convenience and speed with quick serviceJohn Chidsey, Subway CEO, joins 'Squawk on the Street' to discuss Subway's sale to Roark Capital Group, the Fed's rate increases producing a challenging financing environment, Roark's professional experience with franchise restaurants, and modernizing restaurants with cashless payments and international expansion.

Persons: John Chidsey Organizations: Subway, Roark Capital Group

☆ I visited 4 Subway locations and saw firsthand what challenges its new owners will face. I found stale bread, bad tuna, and outdated, dirty restaurants.
▼ + stars: | 2023-09-01 | by ( Nancy Luna | ) www.businessinsider.com time to read: +9 min

We visited four Subway in Southern California to figure out how Roark can fix the brand. So I visited four Subway stores near my Southern California home. It is one of hundreds of Subway stores that have been remodeled over the years. In 2021, The New York Times conducted its lab test and published a report stating that it found no tuna DNA in Subway tuna sandwiches. I ordered the tuna sandwich at a Subway in Santa Ana, California, an aging stand-alone store in a former adobe-style Taco Bell building.

Persons: Roark, Dunkin, Fred DeLuca, Jared Fogle, It's, haven't, Nancy Luna, Burger King, —, Tim Powell, Powell Organizations: Roark Capital, Buffalo Wild Wings, Service, Subway, Royce, Owners, The New York Times, Chapman University Locations: Southern California, Wall, Silicon, Jersey, North America, Miami, Orange , California, Santa Ana , California, Orange

☆ Subway's flying restaurant will serve sandwiches 1,000 feet in the air: How to book your free ride
▼ + stars: | 2023-08-29 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

The brand's latest move is dubbed "Subway in the Sky," and is an 180-foot blimp that will carry diners into the air to try the chain's sandwiches. The aircraft is designed to look like one of Subway's new menu items, complete with assorted meats, cheese and veggies. The blimp can carry up to seven passengers at a time and will hover at an altitude of 1,000 feet. Before boarding, passengers will receive a lunchbox with samples of the chain's four new "Deli Hero" sandwiches to eat while airborne. Get CNBC's free Warren Buffett Guide to Investing, which distills the billionaire's No.

Persons: Warren Buffett Locations: Kansas City , Missouri, Orlando, Florida, Miami

Aug 24 - Subway has agreed to sell itself to private equity firm Roark Capital in a deal valuing the sandwich chain at more than $9 billion, sources said, ending a long-drawn auction that saw several bids from buyout firms. The deal will make Roark Capital one of the largest restaurant operators in the world. It controls Inspire Brands, the owner of restaurant chains including Jimmy John's, Arby's, Baskin-Robbins and Buffalo Wild Wings. Subway said in February it was exploring a possible sale, drawing interest from private equity firms including Roark, Advent International, TDR Capital and TPG as well as Goldman Sachs' asset management arm. The restaurant chain had then hoped to fetch more than $10 billion, owing to its strong brand and international business.

Persons: Roark, Jimmy John's, Neil Saunders, GlobalData, Goldman Sachs, Anirban Sen, Deborah Sophia, Arun Koyyur Organizations: Roark Capital, TDR, Sycamore Partners, Brands, Baskin, Robbins, Buffalo Wild Wings, Subway, Advent, TDR Capital, TPG, Thomson Locations: U.S, North America, New York, Bengaluru

Reuters reported on Tuesday on a so-called earn-out agreement that was key to Roark clinching a deal for Subway. Roark prevailed over a rival bidding group led by buyout firms TDR Capital and Sycamore Partners, whose final offer was for $8.75 billion including an earn-out, and $8.25 billion without, the sources said. Roark took the view that the restaurant market is too fragmented for the deal to raise competition concerns, the sources added. Roark and Subway, which announced the deal on Thursday, declined to comment on the terms. Roark currently controls Inspire Brands, the owner of restaurant chains including Jimmy John's, Arby's, Baskin-Robbins and Buffalo Wild Wings.

Persons: Roark, DeLuca, Buck, John's, Jimmy John’s, Jimmy John's, Neil Saunders, Peter Buck, Fred DeLuca, JPMorgan Chase, Sullivan, Cromwell, Weiss, Garrison, Roark Capital, Morgan Stanley, Anirban Sen, Abigail Summerville, Deborah Sophia, Greg Roumeliotis, Marguerita Choy Organizations: Roark, Reuters, Subway, TDR Capital, Sycamore Partners, Inspire Brands, Baskin, Robbins, Buffalo Wild Wings, JPMorgan, Cromwell LLP, Thomson Locations: Connecticut, U.S, Bridgeport , Connecticut, The Milford , Connecticut, Rifkind, Wharton, New York, Bengaluru

☆ Subway is being sold to a massive private-equity firm, finally moving the sandwich chain away from family ownership after nearly 60 years
▼ + stars: | 2023-08-24 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Roark's brands include Arby's, Dunkin', Buffalo Wild Wings, and rival sub store Jimmy John's. Subway is in the midst of a huge rebrand after suffering from a sales slump. Through Inspire Brands, it also owns another sub chain — Jimmy John's — which has more than 2,600 stores. AdvertisementAdvertisementSince the first Subway store opened in 1965, the company has been owned by its two founders, Fred DeLuca and Peter Buck, and their families. The sandwich chain announced last month that it had achieved 10 consecutive quarters of positive sales, including recording its highest weekly average unit volume in North America in the second quarter of 2023.

Persons: Dunkin, Jimmy John's, John Chidsey, Fred DeLuca, Peter Buck, It's Organizations: Roark, Arby's, Buffalo Wild Wings, Service, Roark Capital, Subway, Inspire Brands Locations: Wall, Silicon, North America

These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources familiar with the matter said. The arrangement helped bridge a gap in the valuation expectations between Roark Capital and the DeLuca and Buck families that own Subway, according to the sources. The deal will make Roark Capital one of the largest restaurant operators in the world. Subway said in February it was exploring a possible sale, drawing interest from private equity firms including Roark, Advent International, TDR Capital and TPG as well as Goldman Sachs' asset management arm. Roark and Subway have 12 months to close the deal, which has a 4% breakup fee, sources said.

Persons: Roark, DeLuca, Buck, Jimmy John's, Neil Saunders, GlobalData, Goldman Sachs, Anirban Sen, Abigail Summerville, Deborah Sophia, Arun Koyyur Organizations: Roark Capital, TDR, Sycamore Partners, Brands, Baskin, Robbins, Buffalo Wild Wings, Subway, Advent, TDR Capital, TPG, Thomson Locations: U.S, North America, New York, Bengaluru

☆ Subway sandwich chain sells itself to Dunkin' owner Roark Capital
▼ + stars: | 2023-08-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

In this photo illustration, a Subway meal is seen on a table at a Subway restaurant on January 12, 2023 in Austin, Texas. Roark Capital is buying Subway, ending the sandwich chain's more than five decades of family ownership and marking a new era for the struggling company. Subway dwarfs all of them by number of restaurants, and brings in more annual sales than all but Dunkin'. Through holding company Inspire Brands, Roark owns Dunkin', Baskin-Robbins, Sonic, Arby's, Buffalo Wild Wings and Jimmy John's. Roark plans to keep Subway as a separate entity within its portfolio, Subway CEO John Chidsey told the Journal.

Persons: Roark, Dunkin, Robbins, Jimmy John's, Anne's, Carvel, Neil Saunders, John Chidsey, Chidsey, Fred DeLuca, Peter Buck, Jared Fogle, DeLuca, Buck Organizations: Roark Capital, Subway, TDR, Sycamore Partners, Wall Street, Inspire Brands, Baskin, Buffalo Wild Wings, Focus Brands, Journal ., Business Locations: Austin , Texas, Cinnabon, Connecticut, U.S

A Subway sandwich shop logo is pictured in the Manhattan borough of New York February 14, 2014. These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources said. The Wall Street Journal reported on Monday that Roark Capital was nearing a deal to buy Subway for about $9.6 billion. A spokesperson for Subway declined to comment, while representatives for Roark and TDR did not immediately respond to requests for comment. Roark controls Inspire Brands, owner of the Jimmy John's, Arby’s, Baskin-Robbins, Buffalo Wild Wings, Dunkin’, Rusty Taco and SONIC Drive-In chains.

Persons: Carlo Allegri, Roark, DeLuca, Buck, John's, TDR, Sycamore, Goldman Sachs, Fred DeLuca, Peter Buck, Jimmy John's, Dunkin ’, Rusty Taco, Jimmy John’s, Abigail Summerville, Anirban Sen, Greg Roumeliotis Organizations: REUTERS, TDR, Sycamore Partners, Goldman Sachs, Subway, Street, Roark Capital, Goldman, Inspire Brands, Baskin, Robbins, Buffalo Wild Wings, Thomson Locations: Manhattan, New York, TDR Capital, Bridgeport , Connecticut, The Milford , Connecticut, U.S, Champaign , Illinois

☆ The lawsuit casting doubt on whether Subway's tuna is actually completely made of tuna has been dismissed
▼ + stars: | 2023-07-31 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Subway and a plaintiff have agreed to dismiss a lawsuit casting doubt on what its tuna contains. Subway has vigorously defended its tuna and has asked the court to sanction the plaintiff's lawyers. The class-action lawsuit, filed in January 2021, initially claimed that Subway's tuna products "entirely lack any trace of tuna" and instead are made up of "a mixture of various concoctions." Further amendments to the lawsuit claimed that testing showed that Subway's tuna contained detectable traces of chicken, pork, and cattle DNA. Subway's lawyers said that they doubted this was the real reason Amin wanted to dismiss the lawsuit.

Persons: skipjack, Nilima Amin, couldn't, Amin Organizations: Service, New York Times, The Times, Subway Locations: Wall, Silicon

☆ Subway fans have until Friday to win free subs for life, but the catch will require some legal fees
▼ + stars: | 2023-07-29 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Subway's latest change will grant one fan free sandwiches for life. The chain says it will also cover the legal and processing fees for the name change of the winning participant. "Subway brand love and dedication run deep, especially when free sandwiches are up for grabs," the announcement read. "In 2022, one superfan camped out for two days to get a footlong tattoo of the Subway Series logo in exchange for free Subway for life." According to the press release, 2023 is the third year of Subway's "multiyear transformation journey."

Persons: SubwayNameChange.com, superfan Organizations: Service, Subway Locations: Wall, Silicon, Alabama , Nevada, Mississippi

July 27 (Reuters) - A high-profile lawsuit by a California woman who claimed that Subway's tuna products contain ingredients other than tuna has been dismissed. The Oakland, California-based judge will rule later on Subway's request that Amin's lawyers be sanctioned for bringing a frivolous class action. Amin claimed to have ordered Subway tuna products more than 100 times before suing in January 2021, claiming that its tuna sandwiches, salads and wraps included other fish species, chicken, pork and cattle, or no tuna at all. Subway also faulted Amin's "ever-changing" theories to debunk its claim that its tuna products were "100% tuna." In opposing sanctions, Amin's lawyers said she had a "good faith, non-frivolous basis based on testing and evidence that there was something amiss" with Subway tuna.

Persons: Nilima Amin, Jon Tigar's, Amin, Amin's, Tigar, Jonathan Stempel, Jamie Freed Organizations: U.S, District, Subway, Court, Northern District of, Thomson Locations: California, Oakland , California, U.S, Northern District, Northern District of California

☆ No one wants Subway
▼ + stars: | 2023-07-13 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

The move comes as Subway has seen its store count decline by the hundreds over the years. In late January, Buck's foundation, where his two sons work, revealed that the late co-founder had left the charity his 50% stake in Subway . Subway has spent the past few years trimming corporate staff and closing stores under CEO John Chidsey. Despite previous years of slumping sales and store closures, Subway has recently gained some momentum. Are you a Subway insider or franchisee with insight to share?

Persons: Trevor Haynes, Haynes, Peter Buck, John Chidsey, Subway's Organizations: Subway, NY Post, Service, nab, New York Post, Bloomberg, Post Locations: Wall, Silicon, Buck's, Subway

☆ Subway is giving away 1 million subs to mark the debut of their automated deli slicers in 20,000 stores
▼ + stars: | 2023-07-05 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

The privately-held company, which is up for sale, has added meat slicers to 20,000 stores. The chain is giving away 1 million subs to mark the debut of new heftier, deli-sliced subs. The company invested $80 million, equipping 20,000 restaurants with meat slicers over nine months. Before introducing slicers, Subway has rolled out artisan loaves of bread, upgraded soups, new meats, and dressings since 2021. Subway invested $80 million installing meat slicers in 20,000 stores.

Persons: —, Trevor Haynes, Haynes, Paul Fabre, John Chidsey, Subway's Organizations: Subway, Service, Bloomberg Locations: Miami, North America, Jersey, Turkey

NEW YORK, June 6 (Reuters) - Subway reached an agreement with a master franchisee to open nearly 4,000 new sandwich shops across mainland China over the next 20 years, it said on Tuesday. Other companies are also beefing up their presence in China, including Starbucks, which plans to open 3,000 new stores there by 2025. Subway's deal with master franchisee Shanghai Fu-Rui-Shi Corporate Development Co Ltd (FRS) is the largest such agreement in Subway's history. FRS will get exclusive rights to manage and develop all Subway locations in China. "China is a key market with significant long-term growth opportunity, and we look forward to bringing the Subway experience to even more guests in the region," Subway Chief Executive John Chidsey said in a statement.

Persons: John Chidsey, Hilary Russ, Lincoln Organizations: YORK, Starbucks, Shanghai Fu, Corporate Development Co, Asia Investment Capital, Thomson Locations: China, U.S

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