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Subway Restaurants is retrenching. The sandwich chain is planning to shut about 500 U.S. shops this year, after closing roughly 800 last year, bringing the total U.S. count to 25,908.
“We want to be sure that we have the best location,” CEO Suzanne Greco told Bloomberg. “We focused in the past on restaurant count. We’re focused now on strengthening market share. Store count isn’t everything. It’s about growing the business.”
Newer, more modernized chains, including a resurgent McDonald’s and supermarkets and convenience stores, are eating into the company’s market share, she said.
The company sees its biggest opportunity for expansion outside the U.S., Greco said. This year the chain will roll out about 1,000 shops outside North America, focusing on the U.K., Germany, China, India and South Korea.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
