You might not be able to get your $5 Footlong in between class for much longer, unless you go to school outside of the US. Subway recently told Bloomberg that its closing 500 of its stores around the US this year, but plans to expand business globally.
The sandwich chain already closed roughly 900 of its US stores last year. According to Insider Food, the chain has struggled with overexpansion, hasn't been able to keep up with food trends, and has had internal business issues, like a "lack of confidence in the CEO." However, Subway's CEO Suzanne Greco told Bloomberg that "store count isn't everything," and that "it's about growing the business." She also said Subway plans to grow by making sure they're in the best locations possible and strengthening the market share. (And you thought being the leader of your group project was hard.)
In the US, Subway's sales have been riding the struggle bus thanks to the rise and popularity of more modern chains, and its competitor McDonald's. Beyond strategically placed restaurants, Subway also has high hopes for their new loyalty program, new menu items, and some sleeker restaurant renovations. If you're located in the US or in Canada, the new rewards will give you $2 discounts and free stuff. So, maybe join their rewards program, like, now? Free food is the best.
While you'll have to keep an eye on your local Subway restaurant to see if it's affected by the closures, the chain as a whole doesn't seem to be going anywhere anytime soon. "Subway is the world's largest restaurant chain," a rep told Business Insider via email, "and we are confident we will remain the industry leader."