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☆ Subway’s new footlong cookies are so popular that it’s struggling to keep up with demand
▼ + stars: | 2024-02-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Unexpected demand for Subway’s new footlong cookies has created a big cookie shortage, driving the new snack off the menu less than two weeks after its big debut. Because of the cookie’s surprising popularity, Subway has temporarily removed them from its app and third-party channels, like DoorDash, to manage demand. Subway also said that for the first time since 2016, it has added more restaurants than it lost. In the past few years under Chidsey’s purview, Subway chain has undergone a makeover in basically all aspects of its business, because it has struggled recently against its sub-slinging competition. However, some franchisees recently complained that they weren’t impressed with the new $6,000 slicers.

Persons: Auntie Anne’s, ”, John Chidsey Organizations: New, New York CNN, Subway, “ Sidekicks Locations: New York, North America, China

☆ Subway franchisees are underwhelmed by its new $6,000 slicers
▼ + stars: | 2024-01-24 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

Last year, Subway paid to install $6,000 slicers at the chain’s 20,000 US locations in response to its rivals serving freshly sliced meat. The results, so far, have been a “mixed bag,” according to Bill Mathis, the chairman of the North American Association of Subway Franchisees (NAASF), which represents as many as half of Subway locations on the continent. Franchisee’s flaring tensionsThe candor expressed by Mathis isn’t the first time franchisees have expressed their frustration with Subway. Subway, a privately held company, highlights praise from some franchisees during its periodic financial releases. In 2022, a release featured a quote from Donna Curry, a Subway franchisee that owns about 65 locations.

Persons: Bill Mathis, ” Mathis, “, Mathis, he’s, ”, there’s, it’s, you’re, Mathis isn’t, Elisabeth DeLuca, Donna Curry, John Chidsey Organizations: New, New York CNN —, Subway, North American Association of Subway, Restaurant Business, CNN Locations: New York, NAASF

☆ 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

☆ 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

☆ Factbox: Subway to sell itself to Roark Capital
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Thomas White/Illustration/File Photo Acquire Licensing RightsAug 24 (Reuters) - Roark Capital snapped up Subway in a $9.55 billion deal, sources said on Thursday, after it outbid several private-equity groups. The pair then started franchising Subway restaurants, with the first outlet outside of Connecticut being opened in Massachusetts a year later. For 2022, Subway posted a 9.2% year-over-year increase in same-store sales, thanks to its "Subway Series" menu - a lineup of 12 new signature sandwiches. In March, Goldman Sachs' (GS.N) asset management arm, PE firms Bain Capital, TPG, TDR Capital, Advent International and Roark Capital emerged among the list of suitors for the sandwich chain. Reuters reported earlier this week, citing sources that Roark Capital was in the lead to acquire the chain for well over $9 billion after attaching conditions to some of the windfall the two families that own it would get.

Persons: Thomas White, Roark Capital, Fred DeLuca, Peter Buck, DeLuca, Buck, Arby's, Quiznos, Burger, Jared Fogle, Chidsey, John Chidsey, Morgan, Goldman Sachs, Roark, Deborah Sophia, Granth Vanaik, Varun, Anil D'Silva Organizations: REUTERS, Subway, KFC, Bain Capital, TPG, TDR, Advent International, Roark Capital, Reuters, Thomson Locations: Bridgeport , Connecticut, Connecticut, Massachusetts, Bahrain, Subway, United States, Burger, U.S, North America, 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

☆ 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

☆ 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

☆ 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 plans to open nearly 4,000 stores in China in one of its biggest deals ever
▼ + stars: | 2023-06-07 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Subway is planning to add thousands of new sandwich shops in China, increasing its footprint in the country by more than seven times. The world’s biggest sandwich chain announced Tuesday that it would open almost 4,000 new stores across mainland China over the next 20 years. The deal “is the largest master franchise agreement in Subway history and one of the largest across the entire [fast-food restaurant] industry,” Subway said in a statement. The large-scale expansion will be made possible by a deal Subway has inked with a Chinese company, Shanghai Fu-Rui-Shi Corporate Development (FRS). A 5-meter-long Subway sandwich seen in Shanghai on May 30.

Persons: Shanghai Fu, John Chidsey, Chase Organizations: Hong Kong CNN —, ”, Corporate, Subway, Publishing, ” Subway Global, JPMorgan Locations: Hong Kong, China, Shanghai, United States, Asia Pacific

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

NEW YORK, May 1 (Reuters) - Subway, which is exploring a potential $10 billion sale, further shrank last year in the United States as franchisees closed 2.7% of the brand's sandwich shops, squeezing its royalties and fees. The chain shed another net 571 locations in 2022 after even steeper closings in previous years in the United States, its largest global market, according to the latest disclosure document it provides to franchisees who are interested in buying locations. Subway has closed thousands of U.S. locations in recent years due to over-expansion, outdated operations and decor, stale menus and $5 footlong deals that eroded franchisees' profits. Subway franchisees closed more than 1,000 net U.S. locations in 2021 and 1,609 in 2020. At the end of 2022, Subway had 20,576 shops in the United States.

This is weighing on how much the private equity firms are offering to buy companies. So far, bids for Subway have ranged between $8.5 billion and $10 billion, one of the sources said. This is a more expensive route that private equity firms may not opt for, three of the sources added. To be sure, Subway is allowing bidders to use any financing route they want, as long as they can show they can secure committed financing. TPG and Bain were part of a group that owned Burger King when John Chidsey, who is now Subway's CEO, headed that burger fast-food restaurant chain.

☆ Subway reports double-digit quarterly sales growth as sandwich chain seeks buyer
▼ + stars: | 2023-04-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

In this photo illustration, a Subway sandwich is seen on a table at a Subway restaurant on January 12, 2023 in Austin, Texas. Sandwich chain Subway reported double-digit same-store sales growth in the first quarter, showing its turnaround taking hold as the company seeks to sell itself. The restaurant company is reportedly seeking a valuation of at least $10 billion, and the auction is heading into its second round, according to The Wall Street Journal. Globally, Subway's same-store sales climbed 12.1%, and its digital sales increased 11.4%. In North America, same-store sales grew 11.7%, and digital sales soared 21.2%.

☆ Subway is making an epic comeback at the best possible time
▼ + stars: | 2023-04-24 | by ( Gloria Dawson | ) www.businessinsider.com time to read: +3 min

Subway's global same-store sales surged by more than 12% in the most recent quarter, the chain said. In the most recent quarter, global same-store sales surged by more than 12%, the chain said. He told Restaurant Business that Subway currently has 16,500 stores overseas but believes it should have 40,000 or even 60,000. Subway's recent menu updates have helped spur growth. In February, Subway's app was the third-most downloaded fast-food app in the US, logging 1 million downloads, Apptopia said in an article published in QSR Magazine.

☆ A new documentary on Subway and Jared Fogle couldn't come at a worse time
▼ + stars: | 2023-02-25 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

Jared Fogle became Subway's pitchman after losing 245 pounds by mostly eating the chain's subs. A Fogle documentary airing in March is bad timing for Subway as it looks for a buyer, analysts say. Yet, a ghost from Subway's past, Jared Fogle, is returning to haunt America's largest sub chain. The new documentary series promises to reveal the "rise and fall" of the former Subway pitchman who "masqueraded as a national hero while hiding a horrific side." Are you a Subway insider with insight to share?

☆ Subway says it's exploring a sale
▼ + stars: | 2023-02-14 | by ( Samantha Delouya | Nancy Luna | ) www.businessinsider.com time to read: +2 min

Subway said Tuesday that it is exploring a sale of the chain. Last month the WSJ said Subway was up for sale in a deal that could fetch more than $10 billion. "There is no indication of timing or assurance that a sale will occur," the sandwich chain said in a brief statement. Last month, the Wall Street Journal said Subway was exploring a sale that could value the sandwich chain at more than $10 billion. In late January, Subway's late cofounder, Buck, gave his 50% stake in Subway to his foundation, where his two sons work.

☆ Subway to Add Thousands of Restaurants Outside the U.S.
▼ + stars: | 2023-02-02 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

Subway CEO John Chidsey says that much of the company’s growth lies abroad. Subway seeks to rebound from years of declining sales by adding thousands of new restaurants in the next decade, setting it up to increase its sales by more than 50%, Chief Executive John Chidsey said. The chain aims to increase its international locations to around 25,000 over 10 years from roughly 16,000 today, Mr. Chidsey said. The expansion is part of a plan to raise Milford, Conn.-based Subway’s sales to around $25 billion annually from its current $16 billion.

☆ Subway hopes new meat slicers will boost sales after record 2022
▼ + stars: | 2023-02-02 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

The company believes its plan to slice meat in front of customers could make 2023 another record year. A privately held company, Subway doesn’t typically release quarterly earnings but it gave reporters a glimpse of its finances as the company potentially explores a sale. Sales from its “Subway Series” menu now account for 20% of sales, Chidsey said. He said that the new sandwich combinations are a “win win” for its workers and franchisees because it’s easier. Restaurants will now slice the meat in front of guests, a reversal from its previous method of shipping locations pre-sliced meat.

☆ Sandwich chain Subway's sales climb as turnaround takes hold ahead of potential sale
▼ + stars: | 2023-02-02 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Subway said its same-store sales climbed 9.2% in 2022, signaling the sandwich chain's turnaround is taking hold as it reportedly explores a sale. However, Subway has recently shared periodic sales updates as it has undertaken a turnaround. Subway has seen eight consecutive quarters of sales growth, and digital sales have more than tripled since 2019, the company said in a release. Its North American locations' same-store sales jumped 7.8% in 2022, breaking decade-old average weekly sales records, according to Subway. The trend reverses years of sales declines for the once-ubiquitous sandwich chain, which was at one time the largest U.S. restaurant company by number of locations.

☆ Subway is reportedly looking to put itself up for sale in a deal that could exceed $10 billion
▼ + stars: | 2023-01-12 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Subway is looking to put itself up for sale in a deal that could fetch more than $10 billion, according to the WSJ. The reported decision comes a little more than a year after the company's last surviving founder died in 2021. Subway is undergoing a revamp under CEO John Chidsey after facing slumping sales and store closures. The sandwich chain is reportedly looking to court corporate buyers or private-equity companies but is still early in the process. In a statement to Insider, a Subway spokesperson said: "As a privately held company, we don't comment on ownership structure and business plans.

☆ Subway is reportedly exploring a sale
▼ + stars: | 2023-01-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Subway, one of the world’s most recognizable fast food brands, might be up for a sale, according to the Wall Street Journal. The privately held company has obtained advisers to explore sale that could value Subway at more than $10 billion, the Wall Street Journal reported. In a statement provided to CNN, Subway said that it doesn’t “comment on ownership structure and business plans” because it’s private. Subway is still in the early stages of throwing up the “for sale” sign and it might not find an acceptable deal, the Journal reported. 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.

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