Subway expected to move, close hundreds of locations

Subway expected to move, close hundreds of locations

Subway expected to move, close hundreds of locations

Apparently, that means bailing out of the USA for China, India, Mexico, Germany, South Korea, and England.

But it might not keep that edge much longer: The company has just announced plans to close 500 more of its USA stores this year. Quite the contrary. While Subway will close restaurants in the USA they plan to open 1,000 new restaurants overseas. 2016 also saw store closings, Bloomberg reported.

"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", Subway said in a statement.

The chain, whose slogan is "Eat Fresh", has been hurt in recent years by strong competition from fast-food giants like McDonalds, fast-casual favorites Panera and Chipotle, and even the increasingly growing number of gas stations and convenience stores that serve quick, made-to-order food.

Subway sales dropped 4.4 percent while top competitor McDonald's increased by 3.4 percent, the best performance in years, according to Fortune. Subway plans to expand globally with the opening of 1,000 locations outside of North America.

Subway restaurants are 100% Franchisee owned and operated, and our commitment to the Franchisees is to work with them to make each restaurant more successful. The look is more modern, with ordering kiosks in stores, and different items on the menu.

Subway launched a new line of wraps earlier this year and a loyalty program, called Subway MyWay Rewards.

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