More than 600 Subway sandwich restaurants closed in 2024, continuing a decline that has now persisted for almost a decade.
According to reporting from QSR, which covers the restaurant industry, Subway closed 631 locations in 2024, marking the ninth straight year of shrinking outlets for the chain. Subway now has less than 20,000 stores across the U.S., down from a 2015 heyday of more than 27,000 locations.
But worldwide, the brand is still growing, where it has arranged for more than 10,000 new locations over the last three years. The chain is still the largest in the U.S. by store count and now third overall worldwide, trailing only Starbucks and McDonald's.
Subway is still known for its franchising model, which pitches investors on its wide brand recognition and ease of adding locations to high-traffic markets.
The chain is also focusing on value propositions as customers get more sensitive to steep food prices. It will offer a $6.99 footlong deal through its companion app through May, officials said.
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Other fast food restaurants have recently struggled with changes to consumer and economic sentiment.
McDonald's earnings reported Thursday showed U.S. same-store sales were down 3.6%. The chain said patronage from lower- and middle-income demographics slumped by double-digit percentages as consumers cut back on spending amid concerns over inflation and the future of the economy.
