Published: Fri, April 27, 2018
Finance | By Jaime Brady

Subway expected to move, close hundreds of locations

Subway expected to move, close hundreds of locations

Subway is closing about 500 more USA stores as it expands internationally.

More than 1,000 Subway locations will open outside of North America, focusing on the U.K. Germany, India, China and Mexico.

Bloomberg first reported on the company's plans.

"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.

In short, it's a miracle that only 500 Subways are closing.

Subway, whose restaurants are all franchisee-owned and -operated, declined to provide a list of locations on the chopping block. Subway is the world's largest restaurant chain and we are confident we will remain the industry leader.

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Recently though the sandwich behemoth has struggled to keep up with fast-casual competitors Panera Bread and Chipotle CMG, among other grab-and-go options in grocery and convenience stores.

The revitalization plan is part of chain's recent attempt to rebrand itself.

Subway also took a public relations hit in 2015 when Subway spokesman Jared Fogle pleaded guilty to charges of child pornography and crossing state lines to pay for sex with minors.

"People are voting with their feet".

Subway is banking on a new loyalty program, along with menu innovation, to boost traffic. "They've been closing stores for a long time". It's also remodeling stores for a sleeker look with touch-screen ordering kiosks. "They're hoping to make this up internationally".

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