Subway Reports Record Sales

Subway has reported a year of record sales due to its transformation journey, which included menu innovation, restaurant modernization, and enhancing the customer experience, Ben Coley reported for QSR Magazine.

Photo Insert: There is excitement about the Subway brand due to its focus on elevating the guest experience and operations.

The company saw 8 consecutive quarters of positive same-store sales, with a 9.2% increase compared to 2021 and 29.1% compared to 2020. In North America, same-store sales rose 7.8% Year-over-Year (YoY), and the top 75% of restaurants (approx. 17,000) saw a 12.5% growth.

The success is attributed to the Subway Series menu, which allows customers to order by name and number instead of customization, upgrades to the catering program with better ordering options and packaging, and the expansion of non-traditional platforms.

8,500 locations in North America now feature the new "Fresh Forward" design, with 2,600 remodels completed in 2022 and an additional 3,600 planned for 2023. The company is also focusing on an experience-oriented growth strategy, rather than development first, and aims to bring in more multi-unit operators.

Dennis Reed, a multi-unit franchisee for over 25 years, said there is excitement about the Subway brand due to its focus on elevating the guest experience and operations.

The Wall Street Journal recently reported that Subway is exploring a sale, with a potential value of over $10 billion.

The 50% ownership stake of co-founder Dr. Peter Buck was donated to a nonprofit, with the other half being owned by the family of co-founder Fred DeLuca, who passed away in 2015. Subway is the largest restaurant chain in the U.S. and the second-largest globally, with nearly 37,000 restaurants in over 100 countries.

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