Subway has called a hasty meeting with franchisees of its 19,000 North American sandwich shops as they grapple with faltering sales and profits, The Post has learned.sky
Subway has called a hasty meeting with franchisees of its 19,000 North American sandwich shops as they grapple with faltering sales and profits, a report has claimed.
The confab — which one franchisee called an “emergency” meeting, noting that the invite was only mailed out last week — will include a recap of promotional offers that are currently being tested in restaurants. The franchisee added that his stores barely break even with the discounts. In a recent national ad campaign, NBA great Charles Barkley has been urging customers to “Buy any foot-long in the app and get one free.”
Subway does not give its franchisees national sales information, but an Eastern US region with about 1,000 Subways saw average weekly same stores sales slip by 8.7% between June 25 and July 16 compared to a year earlier, according to data shared with The Post. That’s versus last year, when Subway boasted that its North American same store sales were up by 5.9% chainwide.
Nevertheless, fast-food restaurants excluding pizza joints in July saw same store sales down 2.9% compared to negative 1.9% in June, according to Bank of America credit and debit card numbers.
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