If you’ve been driving around lately wondering why there’s fewer Subway shops on every corner, you’re not imagining things.
The sandwich giant, once known for being everywhere, has quietly dipped below 20,000 U.S. locations for the first time in two decades.
Fewer Shops, Same Crown
Subway closed down 631 of its underperforming U.S. restaurants last year alone.
That leaves the company with 19,502 stores across the country—still more than any other fast food chain in terms of locations.
But that number is far from its 2015 peak of nearly 27,000.
Even though it remains America’s biggest restaurant chain by footprint, that title now feels a little hollow as closures continue year after year.
This is actually the eighth straight year the brand has been trimming down.
Competition, Bankruptcy, and a Cyber Mess
What’s behind the slow fade?
A mix of things. Subway’s been facing tough competition, shifting customer tastes, and lower sales per store compared to other chains.
To make matters worse, several of its franchise owners have filed for bankruptcy.
In one dramatic episode, 23 Subway shops across two states were shut down unexpectedly due to fallout from a bank hacking incident—leaving 200 employees suddenly out of work, with no warning.
Subway’s Response: Reshape, Relocate, Regrow
The company has responded by saying they’re not just shutting stores—they’re also opening new ones and relocating others to better spots.
It’s part of a bigger plan to deliver what they call a “consistent, high-quality and convenient guest experience.”
That “Smart Growth” strategy focuses on streamlining operations, boosting profitability, and trying to hold onto market share. The idea is to grow smarter, not just bigger.
New Ownership, Same Struggles
In 2023, Subway made headlines when it was sold to private equity firm Roark Capital Group in a massive $9.6 billion deal.
The founding family decided it was time to sell, and Roark stepped in with big promises.
But while the chain continues to grow overseas, the U.S. side of things hasn’t seen a significant boost in sales yet.
Still a Global Player
Worldwide, Subway isn’t exactly shrinking. It’s thriving abroad with more than 37,000 restaurants in total.
That global footprint still puts it ahead of almost every other brand—only McDonald’s and Starbucks are bigger.
In fact, Subway recently celebrated two years of net global growth in terms of restaurant openings.
A Fresh Look with ‘Fresh Forward 2.0’
Alongside financial restructuring, Subway is revamping its store design too.
Enter “Fresh Forward 2.0”—a slick new interior with bold wall graphics, improved lighting, and upgrades that cater to digital orders and mobile experiences.
The company plans to roll out this new design in all its locations around the world in the coming months.
Pepsi In, Coke Out—and Fans React
Another big change?
Subway switched its beverage partner from Coca-Cola to Pepsi.
Fans were not thrilled, and many took to social media to vent.
But the move went ahead anyway and officially took effect last year.
NFL Sponsorship Lost, but Footlongs Still Here
Adding to its shake-ups, Subway lost its spot as the NFL’s official fast food sponsor to rival sandwich brand Jersey Mike’s.
Ouch.
Still, Subway’s not giving up the fight.
It recently introduced some new menu items—like the limited-time Doritos Footlong Nachos—and announced the return of the $6.99 footlong deal, running through May 31.
What’s Next for Subway?
With a new owner, a new design, and new deals on the menu, Subway is clearly in transition mode.
But whether all these moves will be enough to win back customers and stabilize its U.S. presence remains to be seen.