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☆ Subway has sold itself to a private equity firm
▼ + stars: | 2023-08-24 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Subway has sold itself to private equity firm Roark Capital, ending a six-month long search for a buyer. “This transaction reflects Subway’s long-term growth potential, and the substantial value of our brand and our franchisees around the world,” Subway CEO John Chidsey said in a statement. However, the Wall Street Journal reported the purchase price was “around $9.6 billion,” which would be slightly below the chain’s $10 billion asking price. Despite the sales turnaround, the number of US Subway stores declined to 20,576 last year according to Technomic. Another issue for Roark: Yearly sales at Subway US restaurants are still much lower compared to its sandwich-making rivals.

Persons: Roark Capital, ” Roark, Auntie Anne’s, Carvel, John Chidsey, Roark, Roark’s, Dunkin ’, Jimmy John’s, “ Roark, ”, Neil Saunders, GlobalData, ” Saunders, Trevor Haynes, He’s, Douglas Fry Organizations: New, New York CNN — Subway, Roark, Subway, Buffalo Wild Wings, Sonic, ” Subway, “, Wall Street Journal, ”, Inspire Brands, Inspire, US Subway, QSR Magazine, Jersey, Subway’s North Locations: New York, North America, Subway, Subway’s North America, Canada

☆ 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

☆ Freshly sliced meat and new store designs: How Subway is trying to save itself
▼ + stars: | 2023-07-08 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

Subway scrambled to make fixes: Adding freshly sliced meat earlier this month was the most recent one. Revamped menuSubway added freshly sliced meat this week. In addition to a more neatly organized menu board, Subway added numbers and new names to speed up service. And this week, it rolled out freshly sliced meat — a major shift from Subway’s previous method of having the meat sliced at its factories before being delivered to its stores. Adding freshly sliced meat “felt like the natural step that we needed to get back to and address,” Trevor Haynes, president for Subway’s North America operations, previously told CNN.

Persons: that’s, –, Dunkin, Jimmy John’s, Anthony Behar, ” Trevor Haynes Organizations: New, New York CNN, Firehouse, Wall Street, Inspire Brands, Subway, North, QSR Magazine, Jersey, Apple, customizations, Subway’s North, CNN Locations: New York, Jersey, North America, Subway’s North America

☆ 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

☆ Subway is making another big change to its menu
▼ + stars: | 2023-07-05 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —To undercut its fast-growing rivals, Subway is making a big change to its meats. Subway locations currently fresh slice vegetables and freshly bakes bread and cookies daily. The makeover placed less of an emphasis on customization in favor of a “Subway Series” sandwich menu, which now accounts for 20% of sales. Average yearly sales at Subway US restaurants, however, are much lower compared to its sandwich business rivals. Subway is also up for sale, with Haynes saying that it’s “on track” for an imminent announcement, likely in mid-July.

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☆ Subway, offering a rare glimpse at its finances, says it’s hitting record sales
▼ + stars: | 2022-10-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

Subway attributed its recent success to its new “Subway Series” menu, which was streamlined to help speed up service, and an increase in digital orders. “The results from the Subway Series launch and the positive reaction from guests and franchisees demonstrates that our transformation strategy is working,” said Trevor Haynes, president of Subway North America, in the release. The Subway Series is a more neatly organized menu, divided into four categories (Cheesesteaks, Italianos, Chicken and Clubs) and consisting of three sandwiches each. In another positive benchmark for the struggling chain, Subway said September sales grew nearly 11% compared to the same month a year earlier. System-wide sales at Subway’s US locations were $12.3 billion in 2013, which was its best year of the past 15 years.

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