{"id":1847638,"date":"2023-02-15T07:51:32","date_gmt":"2023-02-15T12:51:32","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1847638"},"modified":"2023-02-15T07:52:28","modified_gmt":"2023-02-15T12:52:28","slug":"subway-exploring-a-sale-at-10-billion-valuation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/subway-exploring-a-sale-at-10-billion-valuation\/","title":{"rendered":"Subway Exploring a Sale at $10+ Billion Valuation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsubway-exploring-a-sale-at-10-billion-valuation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1847638&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div class=\"TopBanner-container\" data-top-banner-placeholder=\"true\"><\/div>\n<\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Subway sandwich giant confirmed Tuesday that it is investigating a possible sale.<\/li>\n<li>JPMorgan was hired by the company as an advisor during the sale exploration.<\/li>\n<li>Subway, which operates more than 37,000 restaurants across 100 countries, reported earlier this month that 9.2% of its same-store revenues grew last year.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107178410\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">A Subway sandwich can be seen at a table at the Subway restaurant in Austin on January 12, 2023.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\"> Getty Images| Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Sandwich giant <a href=\"https:\/\/www.prnewswire.com\/news-releases\/subway-to-explore-possible-sale-301746485.html\" target=\"_blank\" rel=\"noopener\">Subway confirmed<\/a> Tuesday was the start of an exploration for a sale.<\/p>\n<p>An article from last month stated that a deal could increase the value of the chain to more than $10Billion. <a href=\"https:\/\/www.wsj.com\/articles\/subway-explores-sale-that-could-value-sandwich-chain-at-more-than-10-billion-11673480236\" target=\"_blank\" rel=\"noopener\">The Wall Street Journal<\/a>The first report was that the company had employed advisors to look into a sale.<\/p>\n<p>Subway stated Tuesday that <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-3\"><a href=\"https:\/\/www.cnbc.com\/quotes\/JPM\/\">JPMorgan<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><\/span><\/button><\/span><\/span><\/span> It is providing advice to the Connecticut-based company, and will also conduct the sale exploration process. The company did not specify a timeframe and cautioned that the sale process might not go according to plan.<\/p>\n<p>&#8220;The management team remains committed to the future and will continue to execute against its multi-year transformation journey, which includes a focus on menu innovation, modernization of restaurants and improvements to its overall guest experience,&#8221; Subway was quoted in the release.<\/p>\n<p>Subway has more than 37,000 restaurants across the globe.https:\/\/www.cnbc.com\/2023\/02\/02\/subway-sandwich-sales-climb-turnaround-sale-talks.html&#8221;>same-store sales climbed<\/a> 9.2% in the last year. Subway stated that the same-store sales at North American stores increased 7.8% by 2022, exceeding the decade-old average weekly sales records.<\/p>\n<p>Subway does not have to release its financial results because it is privately held. However, it has shared recent sales updates as part of a turnaround effort.<\/p>\n<p>In a press release, the company stated that it has reported sales growth for eight quarters consecutively. Since 2019, digital sales have tripled. After years of declining sales, these improvements represent a significant turnaround.<\/p>\n<p>Subway also operates in a smaller footprint. The company&#8217;s number of locations fell 22% between 2015 and 2021. Subway plans to renovate 3,600 locations in North America and increase franchisee profitability for this year. <a href=\"https:\/\/www.cnbc.com\/2023\/02\/02\/subway-sandwich-sales-climb-turnaround-sale-talks.html\">CNBC reported previously<\/a>.<\/p>\n<p>Peter Buck, co-founder of Subway, died in November 2021. <a href=\"https:\/\/www.prnewswire.com\/news-releases\/the-peter-and-carmen-lucia-buck-foundation-inc-announces-major-gift-301733802.html\" target=\"_blank\" rel=\"noopener\">Announcement<\/a> His 50% ownership was transferred to the charity, which will make it half-owned by a charity. It is not clear if this will affect a sale.<\/p>\n<p><em>\u2014 CNBC&#8217;s<\/em> <a href=\"https:\/\/www.cnbc.com\/amelia-lucas\/\"><em>Amelia Lucas<\/em><\/a> <em>This report was contributed by you.<\/em><\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/4db8932b7ac3e84e3f64.svg\" class=\"WatchLiveRightRail-logo\" alt=\"logo\"   style=\"display:none\"><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APK<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Subway sandwich giant confirmed Tuesday that it is investigating a possible sale. JPMorgan was hired by the company as an advisor during the sale exploration. Subway, which operates more than 37,000 restaurants across 100 countries, reported earlier this month that 9.2% of its same-store revenues grew last year. A Subway sandwich can be seen at &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1899589,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[14866,10491,4340,6743,18688],"class_list":["post-1847638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-exploring","tag-10491","tag-sale","tag-subway","tag-valuation"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1847638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1847638"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1847638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1899589"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1847638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1847638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1847638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}