Subway expected to move, close hundreds of locations

A Subway fast food restaurant's sign is shown Monday Oct. 24 2016 in New York

A Subway fast food restaurant's sign is shown Monday Oct. 24 2016 in New York

Bloomberg reports that Subway Restaurants will be shuttering 500 or so of its U.S. stores, leaving about 25,400 open.

The privately held company has yet to disclose its 2017 store count, but there were reports of hundreds of store closings.

Subway's footprint in the USA will shrink as it expects to close "several hundred" locations this year, a company spokesman said. The closures came as sales dropped 4.4%, due to increased competition from other fast food chains.

"Looking out over the next decade, we anticipate having a slightly smaller, but more profitable footprint in North America and a significantly larger footprint in the rest of the world", the spokesperson said in an e-mailed statement.

"I believe that Subway was more interested in the opening of stores", a former corporate employee told Business Insider.

In 2015, the face of the company's advertising efforts, Jared Fogel, pleaded guilty to child pornography charges, which could also have something to do with the company's recent struggles. "They don't want what Subway has to offer", Bob Phibbs, CEO of the New York-based consultancy The Retail Doctor, told USA Today.

Store closings are new for Subway. "They're hoping to make this up internationally".

It's now launching a new loyalty program, remodeling stores to look sleeker, and adding touch-screen kiosks for ordering.

The sandwich chain says it plans to focus on the better performing locations. The company moved away from its old "Tuscany" design and introduced a brighter aesthetic inspired by fresh vegetables.

Recommended News

  • No, Diego Simeone Isn't Good Fit For Arsenal, Former Gunner Insists

    No, Diego Simeone Isn't Good Fit For Arsenal, Former Gunner Insists

    Arsenal haven't won the Premier League title since 2003-04. "That is why I believe it is a Champions League night". I have seen these guys challenged mentally, always respond in the right way.
    Snapchat is Redesigning its Redesign to Highlight Friends' Stories

    Snapchat is Redesigning its Redesign to Highlight Friends' Stories

    To be specific, this design would reunite on the same page your friends' Snapchat Stories with those that come from celebrities. It comes as no surprise that the company has now announced a new advertisement system on their platform.

    EPS for Acadia Realty Trust (AKR) Expected At $0.34 on May, 1

    Therefore 83% are positive. 5 are the (NYSE:LXP)'s ratings reports on April 25, 2018 according to StockzIntelligence Inc. Boenning & Scattergood maintained Federal Realty Investment Trust (NYSE:FRT) on Thursday, February 15 with "Buy" rating.
  • Deutsche Bank steps back from ambition to be global player

    Deutsche Bank steps back from ambition to be global player

    Deutsche Bank is under fire from investors following a 79 percent drop in its quarterly net profit since past year . The reported profits fell short of the Deutsche Bank's expectation of 376 million euros for the first quarter.
    Analysts Point To Advanced Micro Devices, Inc. (AMD) Product Pipeline As Catalyst

    Analysts Point To Advanced Micro Devices, Inc. (AMD) Product Pipeline As Catalyst

    Average Revenue Estimate of the company for the current Fiscal Quarter is $810000, according to consensus of 2 analysts. Stifel analyst Kevin Cassidy has reiterated his buy rating for AMD and boosted his price target from $13 to $14.
    Melania Trump in wax

    Melania Trump in wax

    Spicer had little to say about his interactions with the real-life Melania Trump . "She's a very busy woman". The Madame Tussauds wax museum in New York City unveiled a life-sized model of First Lady Melania Trump .
  • Tigers call up RHP Lewicki ahead of doubleheader

    Tigers call up RHP Lewicki ahead of doubleheader

    James McCann also homered off Taillon, and Nicholas Castellanos and Jeimer Candelario battered the Pirates bullpen for home runs. The Pirates will turn to righty Ivan Nova (2-1, 4.20 ERA), who's got 25 strikeouts and four walks as well as a WHIP of 1.10.
    Independent review says tennis faces 'serious integrity problem' with betting

    Independent review says tennis faces 'serious integrity problem' with betting

    The report dates numerous problems to the 2011 agreement between the ITF and data company Sportradar for the sale of live scoring data.
    Supreme Court admits plea seeking transfer of Kathua case probe to CBI

    Supreme Court admits plea seeking transfer of Kathua case probe to CBI

    The mutilated body of the Bakerwal girl was recovered from a forest in Kathua on January 17, a week after she went missing. The team, led by a retired High Court judge, has submitted a report that gave a clean chit to the lawyers.
  • Time Warner -1.7% after Q1 beat that shows broad income decline

    Time Warner -1.7% after Q1 beat that shows broad income decline

    The investment managers in our partner's database now possess: 598.25 million shares, up from 586.69 million shares in 2017Q3. Time Warner Inc. registered $2.88 million net activity with 0 buys and 3 selling transactions since December 18, 2017.
    Donald Trump Female Lookalike Just Found in Spain

    Donald Trump Female Lookalike Just Found in Spain

    Leis, has found unexpected fame on social media after many found she bore a striking resemblance to President Donald Trump . She is different to Trump on one issue though - she doesn't use a mobile phone and has little interest in online chatter.
    Where to Get a Free Pretzel on National Pretzel Day

    Where to Get a Free Pretzel on National Pretzel Day

    For showing pretzel love, the company will send a code for a free original pretzel to redeem on the smartphone app through May 31. You can also get a SECOND free pretzel if you post a photo of your first on Instagram with the hashtag #NationalWetzelDay .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.