Forlorn Footlongs: Subway To Close 500 More Of Their Sinking Sandwich Shops
April 30, 2018
Shirlaine Forrest/WireImage
Subway Closing 500 Sandwich Shops
You might soon say goodbye to your $5 footlongs. After already closing 800 shops last year, Subway is shutting down 500 more stores.
According to The Denver Post, the restaurant chain which is the world’s largest, can’t keep up with changing consumer tastes and growing competition.
“We aren’t eating the way we used to, and luncheon meats are just not what most people are clamoring for,” Bob Phibbs, chief executive of the Retail Doctor, a New York-based consultancy told The Post. “Let’s face it: If you’re in a major metropolitan area, you’re looking for that green salad place. You’re not saying, ‘Let’s all go to Subway and order through the sneeze guard.’
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“I don’t think there’s a clear path for Subway,” said Phibbs, the retail consultant. “It’s just not what people want anymore.”
Very true, when’s the last time you ventured to Subway to your local Subway?
Don’t completely count Subway out, however, the chain dropped $25 million this year on a new campaign aimed at a younger audience.