Subway Closed Hundreds of Stores Last Year for the First Time Ever
The most common restaurant chain in the U.S. closed more than 350 domestic locations in 2016--the first time it has ended a year with fewer locations than with which it started.
Amid flagging sales, privately held Subway Restaurants shed 359 stores--a drop to 26,744 in 2016, Bloomberg reported late Thursday.
Its pivot toward options such as cage-free eggs, hasn’t helped much as the fast casual space has grown crowded with other competitors--some of whom are native to the healthy and sustainable food movement, and adopted the concept from the get-go.
In 2016, sales at the chain fell 1.7% to $11.3 billion, Bloomberg reported--though international sales actually rose 3.7% to $5.8 billion.