Despite the seeming ubiquity of McDonald\u2019s Golden Arches and the \nStarbucks\u2019 twin-tailed mermaid, sandwich chain Subway actually has the \nmost locations of any restaurant worldwide. In 2017, Subway had 43,912 \nstores around the world, beating second-place McDonald\u2019s at 37,241 and \nthird-place Starbucks at 27,339 locations.<\/p>\n\n\n\n
This number, however, belies the economic reality: while McDonald\u2019s \nand Starbucks have mostly grown their sales every year for the last five\n years, Subway sales have been slipping since 2014, and foot traffic is \ndown 7.6 percent over the last 12 months, according to food industry \nmarket research firm Technomic. Shortly after this slump began, Subway \nstarted closing stores. More than 350 were shuttered in 2016; more than \n800 in 2017; and another 500 in 2018.<\/p>\n\n\n\n
Industry analysts point to a few reasons for this, but especially a \nlack of innovation. While McDonald\u2019s and Starbucks continually create \nnew products and store designs to evolve along with changing consumer \npreferences, Subway lags behind. Last summer, the sandwich shop \nannounced its first major redesign, Fresh Forward, in nearly 20 years.<\/p>\n\n\n\n
Recently, CEO Suzanne Greco, younger sister of Subway founder Fred \nDeLuca, retired. As the company searches for its first non-DeLuca family\n member CEO since its founding in 1965, many are wondering whether this \nchange can turn the tide for the world\u2019s most prolific restaurant chain.\n Trevor Haynes, who headed up the chain\u2019s business development, is \nserving as chief executive on an interim basis.<\/p>\n\n\n\n
Despite the seeming ubiquity of McDonald\u2019s Golden Arches and the \nStarbucks\u2019 twin-tailed mermaid, sandwich chain Subway actually has the \nmost locations of any restaurant worldwide. In 2017, Subway had 43,912 \nstores around the world, beating second-place McDonald\u2019s at 37,241 and \nthird-place Starbucks at 27,339 locations.<\/p>\n\n\n\n
This number, however, belies the economic reality: while McDonald\u2019s \nand Starbucks have mostly grown their sales every year for the last five\n years, Subway sales have been slipping since 2014, and foot traffic is \ndown 7.6 percent over the last 12 months, according to food industry \nmarket research firm Technomic. Shortly after this slump began, Subway \nstarted closing stores. More than 350 were shuttered in 2016; more than \n800 in 2017; and another 500 in 2018.<\/p>\n\n\n\n
Industry analysts point to a few reasons for this, but especially a \nlack of innovation. While McDonald\u2019s and Starbucks continually create \nnew products and store designs to evolve along with changing consumer \npreferences, Subway lags behind. Last summer, the sandwich shop \nannounced its first major redesign, Fresh Forward, in nearly 20 years.<\/p>\n\n\n\n
Recently, CEO Suzanne Greco, younger sister of Subway founder Fred \nDeLuca, retired. As the company searches for its first non-DeLuca family\n member CEO since its founding in 1965, many are wondering whether this \nchange can turn the tide for the world\u2019s most prolific restaurant chain.\n Trevor Haynes, who headed up the chain\u2019s business development, is \nserving as chief executive on an interim basis.<\/p>\n","protected":false},"excerpt":{"rendered":"