Results demonstrate continued strong performance with positive global sales and consecutive record-breaking monthly AUVs in first half of 2023
MIAMI, July 25, 2023 /PRNewswire/ -- Subway, one of the world's largest restaurant brands, announced its 10th consecutive quarter of positive sales, as it continues to execute against its multi-year transformation journey.
During the second quarter, Subway broke brand records as it achieved its highest average unit volume (AUV) in North America for three consecutive months and, within that time, its highest weekly AUV in the company's recorded history. For the first half of 2023, Subway saw positive traffic across North America and significant growth in global restaurant same-store sales. Positive sales momentum continues to be driven by menu innovation, modernization of restaurants and ongoing improvements to the overall guest experience, including digital. Highlights include:
First Half of 2023 Global Results, compared to the same period in 2022:
- 9.8% increase in same-store sales
- 11.1% increase in digital sales
First Half of 2023 North America Results, compared to the same period in 2022:
- 9.3% increase in same-store sales, with the top 75% of locations (about 17,000 restaurants) up 14.5%, and the top 50% of locations (about 11,500 restaurants) up 19.8%
- 17.8% increase in digital sales
"Over the past two years, we've made consistent progress across all areas of our business, driving impressive sales results and positive changes for our franchisees and guests," said John Chidsey, Subway CEO. "The strong sales momentum from the first half of 2023 is setting the tone for another exceptional year for Subway and our franchisees."
Subway continues to see significant growth in its digital channels, which have more than quadrupled since 2019. Later this year, guests can expect new digital enhancements in key markets around the world, including a refreshed loyalty program.
Subway also remains focused on smart growth, making progress toward its goal of increasing new openings across North America by approximately 35% in 2023, and recently celebrated 10,000 restaurants in the U.S. now remodeled in the brand's new, modern image. Internationally, Subway announced its 15th new master franchise agreement, as it continues to strategically expand its global footprint with established, well-resourced operators with market-specific expertise.
In July, Subway kicked off the third phase of its transformation journey with the arrival of freshly sliced meats in U.S. restaurants – an $80 million investment across 20,000 restaurants – and the launch of Deli Heroes, a collection of the ultimate deli subs.
About Subway® Restaurants
As one of the world's largest quick service restaurant brands, Subway serves freshly made-to-order sandwiches, wraps, salads and bowls to millions of guests, across more than 100 countries in nearly 37,000 restaurants every day. Subway restaurants are owned and operated by Subway franchisees – a network that includes thousands of dedicated entrepreneurs and small business owners – who are committed to delivering the best guest experience possible in their local communities.
For more Subway News visit: Newsroom (subway.com)
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SOURCE Subway Restaurants