Subway to close down 500 stores in the U.S.
Fast food chain Subway has announced plans to shut down around 500 stores in North America to focus on overseas expansion.
Subway announced on Wednesday the planned closure of 500 units across North America this year, adding to the 909 stores it shut down in 2017, according to Bloomberg.
Suzanne Greco, CEO of Subway, told the financial publication “store count isn’t everything.” One of the reasons for fewer numbers will be Subway’s new revitalization plan that will require franchisees to invest more in their operations.
Planned improvements include the addition of self-service kiosks, improved seating and Wi-Fi and USB charging ports. The company has also announced a loyalty program to try and turn around slumping sales.
On the other hand, the sandwich company expects to open 1,000 locations worldwide, including in Mexico, the UK, China and India.
With more than 40,000 locations globally, Subway ranks the largest restaurant chain in the world, outpacing McDonald's and Starbucks.
