For the first time in its 52 years of operation, Subway announced that it contracted in 2016, shuttering 359 US locations which as Bloomberg described was the “biggest retrenchment in the history of the restaurant chain” whose total store count dropped 1.3% from 27,103 in 2015 to 26,744 even as it remained the most ubiquitous fast-food eatery in the US, although McDonalds still tops if by sales.
“Sales for 2016 reflect our focus on international growth,” the Connecticut-based company said in a statement. “We are undertaking an exciting transformation that includes introducing new and improved products, creating an even greater customer experience, refining operations, and positioning Subway franchisees for continued success.”
Confirming that the domestic sales slowdown has continued into 2017, even as the Sub-par chain has been competing with dozens of newer, more exciting fast food eateries, U.S. same-store sales continued to slide during March, dropping 0.6% in the fourth straight month of decreases, according to MillerPulse data cited by Bloomberg.
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