Subway Plans to Close 500 U.S. Stores and layoff workers as sales dwindle

  • ‘Store count isn’t everything,’ CEO Suzanne Greco says
  • Sandwich maker has plans for U.K., China, India, Latin America

Subway Restaurants, the world’s most ubiquitous dining chain, will continue closing U.S. stores as it expands internationally.

After peppering the nation with thousands of locations, closely held Subway is retrenching. This year, the sandwich purveyor is planning to shut about 500 more of its U.S. shops. Last year, more than 800 stores went dark, with the total U.S. count dropping to 25,908. It also closed restaurants in 2016.

“We want to be sure that we have the best location,” Chief Executive Officer Suzanne Greco, 60, said in a phone interview. “We focused in the past on restaurant count. We’re focused now on strengthening market share.”

“Store count isn’t everything,” she said. “It’s about growing the business.”

www.bloomberg.com/news/articles/2018-04-25/subway-plans-500-u-s-store-closings-while-building-global-reach

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