Subway, one of the world’s largest restaurant brands, announced its ninth consecutive quarter of positive sales as it continues to execute against its multi-year transformation journey.
In the first quarter of 2023, Subway saw positive traffic and double-digit growth in global restaurant same-store sales, driven by its continued focus on menu innovation, modernization of restaurants and improvements to the overall guest experience, including digital. Highlights include:
Q1 Global Results, compared to the same period in 2022
– 12.1% increase in same-store sales.
– 11.4% increase in digital sales.
Q1 North America Results, compared to the same period in 2022
– 11.7% increase in same-store sales, with the top 75% of locations (about 17,000 restaurants) up 17.9%, and the top 50% of locations (about 11,500 restaurants) up 24.4%.
– 21.2% increase in digital sales.
Kicking off the second quarter, in April, the brand also achieved its highest weekly average unit volume (AUV) in the U.S. since 2010.
“Our continued impressive performance demonstrates that our efforts to build a better Subway and win back the hearts and minds of sandwich lovers around the globe is working,” said John Chidsey, CEO of Subway. “With strong sales momentum across our restaurants and a refreshed focus on strategic brand growth, there has never been a more exciting time to be part of the Subway brand.”
In addition to its focus on delivering better food and a better guest experience, Subway continues to see significant growth in its digital channels, with global digital sales more than quadrupling since the start of 2019. In the U.S., dedicated digital promotions have resulted in a recent surge of guests using the Subway app, helping the brand maintain a strong value proposition and increase profitability for many franchisees.
Looking ahead, Subway is keeping the momentum going as it continues to improve across all aspects of the brand. Guests can expect to see new, craveable menu items and digital enhancements rolled out in key markets around the world in the coming months. In addition, Subway remains focused on smart growth to boost franchisee profitability and protect the brand’s position in the market, including strategically opening new traditional and non-traditional locations. In North America, the brand recently announced five new multi-unit owner agreements, illustrating the confidence both new and existing operators have in Subway’s future. Internationally, Subway is partnering with strong, well-established operators with specific market expertise to strategically expand its footprint around the world.
