Subway closed more than 500 U.S. locations in 2022, adding to the stores shed in previous years. The franchise had 20,576 locations in the U.S. at the end of last year.
"We have spent the past two years optimizing our footprint by using a strategic, data-driven approach to ensure restaurants are in the right location, image and format," Subway said in a statement. "This includes opening new locations, with quality remaining a top priority, relocating restaurants to maximize guest traffic and closing locations when needed."
Despite Subway continuing to shed stores in 2022, the document showed the number of U.S. closures was fewer last year than in previous years with over 1,000 in 2021 and 1,609 in 2020.GET FOX BUSINESS ON THE GO BY CLICKING HERE "The slowdown in closures is a result of the progress we have made to get back to smart growth, which will boost franchisee profitability and protect our position in the market," Subway said in a statement.
"In 2023, our goal is to increase new openings across North America by approximately 35% compared to 2022," the statement continued.
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