Subway reports double-digit quarterly sales growth as sandwich chain seeks buyer
Publishing timestamp: 2023-04-24 08:01:46
Summary
Subway's same-store sales grew 12.1% in Q1, indicating that its turnaround is working. The company is seeking a potential sale and is reportedly valued at $10 billion. The deal is expected to be completed by the end of May or early June. Subway's improved performance is attributed to its menu overhaul, technology updates, and improved franchisee profitability. The company has also shifted its focus to multi-unit franchisees. Subway has more than 37,000 locations across 100 countries, with the majority in the US.
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Keywords: restaurants, business, business news, jpmorgan chase & co, breaking news: business, retail industry, earnings,