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New York CNN —It’s not $5, but Subway is bringing back cheap footlongs and joining the fast food value menu wars. Beginning August 26, Subway will sell any footlong sandwich for $6.99 — a steep discount considering that some footlongs can cost as much as $14 in some cities. It’s the privately held chain’s latest attempt at luring back customers who are balking at rising fast food prices and spending less when they do go out. Subway is owned by a private equity firm and doesn’t often reveal sales like its publicly traded rivals. Technomic data shows that Subway also lags in sales for sides and snacks compared to its competitors.
Persons: New York CNN — It’s, , Burger, , Doug Fry, Dippers, David Henkes, ” Henkes Organizations: New, New York CNN, Subway, Burger King, Starbucks, Sidekicks, CNN Locations: New York, Subway North America, Technomic
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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