Foot traffic at Subway falls by more than 20% as the sandwich chain approves a $9.6 billion sale: data
An industry analyst says the private equity firm that paid nearly $10 billion to buy Subway faces tough difficulties to resuscitate the struggling brand amid falling foot traffic.
According to exclusive Placer.ai data shared with The Post, the family-owned sandwich producer, which accepted a $9.6 billion deal from Roark Capital last week,
The data showed that Jersey Mike's increased 39.1% from May 2019 to May 2023, whereas Subway dropped.
The pattern doesn't bode well for Subway's new owner, says Andrew Pudzer, former CEO of CKE Restaurants, which owns Carl's Jr. and Hardee's.
You never want to see traffic down significantly,” said Pudzer, who sold CKE to Roark in 2013 and ran the company until 2017.
Placer says Subway must raise restaurant traffic, which is down 21.6 percent from four years ago.
Data shows that Jimmy John's and Firehouse Subs, two other large sub businesses, lost traffic at significantly lower rates than Subway.
Jimmy John's fell 8.8% and Firehouse Subs 13.2%.
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