MILFORD: Subway is closing about 500 stores in the US on the back of the closure of 800 stores. Reports by Bloomberg news said that Subway's sales fell 4.4 percent last year.
The strategy released by Suzanne Greco CEO that company to upgrade some locations to more higher profile locations.
Greco told Bloomberg, “we want to be sure that we have the best location,” Greco told Bloomberg. “We focused in the past on restaurant count. We’re focused now on strengthening market share.”
Greco cited competition including from more “grab and go” items in supermarkets and convenience stores.
The company has more than 25,000 locations in the UA and 44,000 world wide in 122 countries. Outside the US Subway continues to grow, it has recently opened the 2500 store in the UK and is adding more than 1000 stores internationally this year.