Blackstone-Backed Jersey Mike's Subs Reports Growth Amid Market Challenges
2 reports, 1 independent
Updated Sep 20
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What happened
Jersey Mike's Subs Inc., a company backed by Blackstone, has achieved systemwide sales of $1.21 billion, representing a 10% rise year-over-year. The chain, which went public in July, maintains a dominant market position among affluent, older customers. CEO Charlie Morrison stated that the company must be more proactive in attracting Generation Z to sustain its growth.
From yahoo.com
Why it matters
The company's average unit volume stands at approximately $1.4 million, significantly outpacing the estimated average of $500,000 for Subway. Management expects third-quarter same-store sales to increase by 3% to 4%, indicating current sales momentum is being maintained.
From yahoo.com