While it's consolidating in the U.S., more than 1,000 new stores will open outside North America

Subway’s footprint in the U.S. will shrink as it expects to close “several hundred” locations this year, a company spokesman said.

At the same time, the world’s largest restaurant franchise plans to expand internationally by opening more than 1,000 new locations.

Subway disputed published reports that said it will shut down 500 stores, saying that figure was a projection, not a confirmed number. It has not been determined if any New Jersey locations will go out of business, the spokesman said

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“Looking out over the next decade, we anticipate having a slightly smaller, but more profitable footprint in North America and a significantly larger footprint in the rest of the world,” the company said in emailed statement.

Some locations could also be consolidated or relocated.

All of Subway’s 44,000 or so global locations are owned and operated by franchisees. None are owned by the company.

Sales dropped 4.4 percent last year, according to Bloomberg.

Jeff Goldman may be reached at jeff_goldman@njadvancemedia.com. Follow him on Twitter @JeffSGoldman. Find NJ.com on Facebook.



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Source: http://www.nj.com/business/index.ssf/2018/04/subway_to_shutter_500_us_stores.html