Sandwich chain Subway is exploring a possible sale
Publishing timestamp: 2023-02-14 12:03:33
Summary
Subway, a sandwich giant with over 37,000 restaurants in more than 100 countries, has hired JP Morgan as advisors to explore a possible sale. The company reported a 9.2% increase in same-store sales last year and digital sales have more than tripled since 2019. The company is also planning to remodel 3600 North American locations and improve franchisee profitability this year. The foundation for Subway co-founder Peter Buck, who died in November 2021, announced he left his 50% ownership to a charity, which may impact the potential sale.
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Keywords: retail industry, business news, restaurants, business, fast food restaurant operators, jpmorgan chase & co,
Source: https://www.cnbc.com/2023/02/14/sandwich-chain-subway-explores-sale.html