Subway maintains sales, store growth momentum; to remodel 3,600 sites
Subway reported its ninth consecutive quarter of positive sales as its turnaround continues to take hold.
The quick-serve giant, which is looking to sell itself, saw a 12.1% increase in global restaurant same-store sales and an 11.4% increase in digital sales during its first quarter. In North America, same-store sales rose 11.7%, and digital sales jumped 21.2%. Kicking off its second quarter, in April, the brand also achieved its highest weekly average unit volume in the U.S. since 2010.
The increases come as Subway has improved its menu offerings, enhanced its digital capabilities and updated its restaurants and customer experience.
Expansion/Remodels
Subway said it remains focused on “smart growth” to boost franchisee profitability and protect the brand's position in the market. This includes opening new traditional and non-traditional locations, with a goal of increasing new openings across North America by approximately 35% in 2023 versus 2022.
In addition, the brand continues to invest in relocations and remodels, with an additional 3,600 locations across North America expected to be remodeled this year. More than 10,000 locations are expected to be in the current Subway image by this summer.
"Our continued impressive performance demonstrates that our efforts to build a better Subway and win back the hearts and minds of sandwich lovers around the globe is working," said John Chidsey, CEO of Subway. "With strong sales momentum across our restaurants and a refreshed focus on strategic brand growth, there has never been a more exciting time to be part of the Subway brand."
In February, Subway announced a partnership with GenZ EV Solutions, a provider of electric vehicle (EV) charging solutions, on an initiative that will eventually include the opening of “Subway Oasis” charging parks at select locations. The parks will feature charging canopies with multiple ports, picnic tables, Wi-Fi, restrooms, green space and playgrounds.
Subway operates nearly 37,000 restaurants in more than 100 countries.