Sandwich chain Subway's sales climb as turnaround takes hold ahead of potential sale
Publishing timestamp: 2023-02-02 07:45:01
Summary
Subway's same-store sales rose 9.2% in 2022, signaling that its turnaround is taking hold. The privately owned company has reportedly hired advisors to explore a potential sale and is revamping its restaurants. Subway has seen eight consecutive quarters of sales growth and digital sales have more than tripled since 2019. The company plans to improve franchisee profitability and remodel 3600 North American locations in 2023. On Tuesday, Subway co-founder Peter Buck's foundation announced that he left his 50% ownership of the sandwich chain to a charity.
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Keywords: restaurants, chipotle mexican grill inc, fred deluca, business, breaking news: business, retail industry, business news, united states,
Source: https://www.cnbc.com/2023/02/02/subway-sandwich-sales-climb-turnaround-sale-talks.html