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Subway has recently announced a new menu called the Subway Series that includes 12 new subs, grinders and other items. These items can be ordered by number or by name. The new menu items are part of a larger refresh that started last summer. The refresh included new and refreshed ingredients. Subway was one of the first fast food chains. However, a refresh is sometimes necessary in order to stay fresh.
Subway has been working on turning around slump sales for years. One of the factors contributing to the company’s decline a decade ago was over-saturation and ingredient freshness. The company is also facing competition from smaller sandwich chains like Firehouse Subs, which were recently purchased by the owners of Burger King for one billion dollars. In the fourth quarter of 2018, same-store sales rose by nearly 25% in two years.
The company’s financial resources and inspiring story helped it thrive in a competitive industry. In addition to its financial resources, Firehouse Subs have a touching narrative. The company donates a portion of every purchase to its public safety Foundation, which has provided nearly $7 million in equipment training and assistance to local police, fire, and emergency medical services. Firehouse Subs is still David to Subway’s Goliath, with roughly 1,100 stores and $1 billion in revenue.
Subway stores worldwide generated over a billion dollars in revenue, beating their expectations by over 30,000 locations. The company did not disclose what its objectives were, but new menu items are the primary driver of the increase in revenue. The company is investing in its image and new menu items to keep competitors at bay.
What do you think of Subway’s menu overhaul? Let us know down in the comments.