Subway Continues Efforts to Boost Sales After Two Strong Years

Subway had two record-setting years and has no plans of slowing down.

Subway does not usually release quarterly earnings as a privately held company, but CNN reported, “Sales at its North America stores open at least a year rose 7.8% last year compared to 2021, which Subway said exceeded its projections by more than $700 million (it didn’t reveal specific numbers).”

Subway CEO, John Chidsey, told CNN, “It was another great year for us in our transformation journey. The momentum that was created in 2021, we maintained in 2022 and we’re off to a great start in 2023.”

Subway announced in a release that the company has seen eight straight quarters of sales growth. Digital sales growth is soaring as well since 2019.

Since Chidsey took over the role of CEO in 2019, successful changes have been made within the company including overhauling the menu, upgrading ingredients and increasing ad spending to draw customers back in.

Also, according to CNBC, in 2023 “Subway plans to improve franchisee profitability and remodel 3,600 North American locations. Outside of its home market, the company has commitments from master franchisees to open 5,300 new locations.”