The chain started falling behind competitors around 2015.
Subway’s latest promotion in its effort to transform the brand also requires a change from its superfans.
Hardcore Subway enthusiasts can enter a contest in August to win free sandwiches for life – if they commit to legally changing their first name to “Subway.” The chain will choose a winner and pay their legal fees to assume “a new iconic identity.”
Subway, one of the world’s largest quick-service restaurant chains with about 37,000 franchise-run locations in more than 100 countries, said in February it was exploring a sale. The auction was expected to last six months, aiming to fetch $10 billion in valuation.
The chain started falling behind competitors around 2015, in part because of competition and a decline in consumer ratings. Subway appointed a new CEO in 2019 and embarked on a turnaround plan, including upgrades to its restaurants, menu and digital offerings. One of its latest changes was the launch of fresh-sliced meats, following in the footsteps of competitors such as Jersey Mike’s.
According to Subway, the changes are working. In 2022, the company said guests surveyed described the brand as “updated,” “energetic” and “innovative.” Same-store sales globally jumped 12.1% in the first quarter, compared to a year earlier, and the company recorded an 11.4% increase in digital sales.
— With assistance from Daniela Sirtori-Cortina and Crystal Tse.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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