The private equity firm that agreed to fork over nearly $10 billion to scoop up Subway faces stiff challenges to revive the troubled brand amid plummeting foot traffic, according to an industry expert.
The family-owned sandwich maker — which accepted a $9.6 billion offer from Roark Capital last week — has seen overall foot traffic at its US franchises plunge 21.6% offer the past four years, according to exclusive data from Placer.ai shared with The Post.
Subway’s dropoff comes as rival Jersey Mikes has seen an increase of 39.1% over the same period from May 2019 to May 2023, the data showed.
The trend doesn’t bode well for Subway’s new owner, according to Andrew Pudzer — the former CEO of CKE Restaurants, whose fast-food brands include Carl’s Jr. and Hardee’s.
You never want to see traffic down significantly, said Pudzer, who helped sell CKE to Roark in 2013 and stayed on as the company’s chief executive until 2017.
If you are going to build your business you cant continue to lose traffic at a significant rate.
Two other two sizable sub chains, Jimmy John’s and Firehouse Subs, also lost traffic during that period but at much lower rates than Subway, according to the data. Jimmy Johns was down 8.8% and Firehouse Subs sank 13.2%.
Subway’s foot traffic began to inch up in the past year, rising .08% from May 1, 2022 to May 1, 2023, but was still well off gains made by Jersey Mikes (13.7%) and Jimmy Johns (2.4%) over that span, according to Placer.ai.
Firehouse Subs was down 4.2% during that period.
Subway, one of the nation’s largest fast food chains with more than 20,000 franchises in the US, touted its positive same-store sales this year, which was up 9.3% in North America compared to the prior year.
We are pleased with the continued progress of our transformation journey, which has refreshed our ingredients, improved our menu, helped boost our franchisees profitability and resulted in 10 consecutive quarters of positive sales, a Subway spokeswoman told The Post on Monday.
Roark Capital — an Atlanta-based private equity firm and backer of restaurant conglomerate Inspire Brands — last week agreed to buy Subway for $9 billion plus $600 million more if Subway hits certain performance targets. The deal still must clear anti-trust regulators.
Pudzer expects Roark to dive into rebranding the troubled chain’s “Eat Fresh” slogan.
When Roark bought Arbys in 2011 from Nelson Peltz it was in serious trouble and a chain few wanted to frequent, Pudzer noted.
The Roark team came up with great new products and the now-ubiquitous ad campaign, We Got the Meats.
Subway needs a new slogan, Pudzer said.
The chain has suffered several public relations nightmares over the past decade — beginning with the conviction of spokesman Jared Fogle for possessing child pornography in 2015.
More recently, it was hit with allegations of selling fake tuna and chicken, and suffered backlash over having soccer star Megan Rapinoe promote the brand and then kneeling during the national anthem.
I think for many years Subway had great success because their target market felt good about going there, Pudzer told The Post.
Theyve kind of lost touch with their target market. People feel its not a place for them anymore. They need to figure out how to make their customer comfortable to be there.
Two people are dead and nearly 560 people were arrested after disorder broke out in France following Paris Saint-Germain’s victory in the Champions League final, the French interior ministry has said.
The ministry added 192 people were injured and there were 692 fires, including 264 involving vehicles.
A 17-year-old boy was stabbed to death in the city of Dax during a PSG street party after Saturday night’s final in Munich, the national police service said.
The second person killed was a man who was hit by a car while riding a scooter during PSG celebrations, the interior minister’s office said.
Paris police chief Laurent Nuñez has said the man was in his 20s and although the incident is still being investigated, it appears his death was linked to the disorder.
Meanwhile, French authorities have reported that a police officer is in a coma following the clashes.
Image: A burning bike on the Champs Elysees during the disorder. Pic: Reuters
The officer had been hit by a firecracker that emerged from a crowd of supporters in Coutances in the Manche department of northwestern France, according to reports in the country.
Initial investigations reportedly suggest the incident was accidental and the police officer was not deliberately targeted.
The perpetrator has not been identified.
Image: A man walks past teargas during incidents after the Champions League final soccer match between Paris Saint-Germain and Inter Milan. Pic: AP
Image: A burning bike on the Champs Elysees during the disorder. Pic: Reuters
The interior ministry earlier said 22 security forces workers were injured during the chaos – including 18 who were injured in Paris, along with seven firefighters.
In a news conference today, Mr Nuñez said only nine of the force’s officers had been injured in the French capital.
He added that fireworks were directed at police and firefighters were attacked while responding to car fires.
There were 559 arrests across the country during the disorder, including 491 in Paris. Of those detained across the country, 320 were taken into police custody – with 254 in the French capital.
Mr Nuñez said although most people wanted to celebrate PSG’s win, some only wanted to get involved in fights with police.
He also said the force is only at “half-time” in its response because the PSG team will be celebrating their Champions League victory on the Champs Élysées later today.
Image: Police in Paris during the disorder. Pic: Reuters
Image: Police in Paris during the disorder. Pic: Reuters
Mr Nuñez said that the police presence and military presence in Paris will be increased on the ground for the parade.
It comes after flares and fireworks were set off in the French capital after PSG beat Inter Milan 5-0 in Munich – the biggest ever victory in a Champions League final.
Around 5,400 police were deployed across Parisafter the game, with officers using tear gas and pepper spray on the Champs Élysées.
Image: Pic: AP
Image: Pic: AP
At the top of the Champs Élysées, a water cannon was used to protect the Place de l’Etoile, near the landmark Arc de Triomphe.
Police said a large crowd not watching the match tried to push through a barrier to make contact with officers.
Some 131 arrests were made, including 30 who broke into a shoe shop on the Champs Élysées.
Police have said a total of four shops, including a car dealership and a barbers, were targeted during the disorder in Paris.
Two cars were set alight close to Parc des Princes, police said.
PSG forward Ousmane Dembélé appealed for calm in a post-match interview with Canal+, saying: “Let’s celebrate this but not tear everything up in Paris.”
Image: Pics: AP
After the final played at the Allianz Arena in Munich, Germany, thousands of supporters also tried to rush the field.
Police lined up in front of the PSG end of the stadium at the final whistle, but struggled to contain the fans for several minutes when they came down from the stands following the trophy presentation.
Image: Pics: AP
Désiré Doué, the 19-year-old who scored two goals and assisted one in the final, said after the game: “I don’t have words. But what I can say is, ‘Thank you Paris,’ we did it.”
Despite being a supporter of PSG’s rivals Olympique de Marseille, French President Emmanuel Macron also said on social media: “A glorious day for PSG!
“Bravo, we are all proud. Paris, the capital of Europe this evening.”
Mr Macron’s office said the president would receive the players at the Elysee Palace on Sunday.
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A 16-year-old transgender athlete who is the focus of a US sports row has won two golds and a silver at the California high school track and field championship.
AB Hernandez was born a boy but has transitioned and now competes against girls.
And the teenager’s inclusion in the girls category in the high jump, long jump and triple jump became a national conversation.
Critics, including parents, conservative activists and President Trump, had called for Hernandez to be barred from competing.
Image: AB Hernandez poses with her medals. Pic: AP
In the city of Clovis on Saturday, she took part under a new rule change brought in by the state’s interscholastic federation, under which an extra student was allowed to compete and win a medal in the events where Hernandez qualified.
And it meant there were two winners when she finished first.
Hernandez shared first place in the high jump with Jillene Wetteland and Lelani Laruelle.
All three cleared a height of 5ft 7in (1.7m), but Hernandez had no failed attempts, while the other two had each logged one failure.
Hernandez also had a first-place finish in the triple jump, sharing the top spot with Kira Gant Hatcher, who trailed her by more than half a metre.
Image: AB Hernandez shares the first-place spot on the podium with Kira Gant Hatcher during the triple jump medal ceremony. Pic: AP
Also, Hernandez came second in the long jump with Brooke White.
“Sharing the podium was nothing but an honour,” White said. “As a part of the queer community I want AB Hernandez to know we all have her back.”
Plane protest
During Hernandez’s qualifying events on Friday, a plane flew over the stadium trailing a banner, which read: “No boys in girls’ sports.” It was organised and paid for by two women’s advocacy groups.
A small protest also took place on the road outside. “Save girls’ sports,” one poster read. “XX does not equal XY,” read another.
Image: A plane, paid for by women’s advocacy groups, flew a banner over the stadium that read: ‘No boys in girls’ sports’
Transgender inclusion is a thorny issue but a vote winner for Donald Trump, who campaigned last year with a promise to “kick out men from women’s sport”.
And Mr Trump has threatened to withdraw federal funding from California over Hernandez’s participation in this weekend’s athletics event.
Image: Pic: AP
‘Pilot entry process’
The California Interscholastic Federation had earlier said it was launching a “pilot entry process” to allow more girls to participate in the championship.
It only applied to the three events in which Hernandez competed.
The rule change may be the first attempt nationally by a high school sports governing body to expand competition when trans athletes are participating.
If a transgender athlete wins a medal, their ranking would not displace a “biological female” student from also medalling, the federation confirmed, and it will be reflected in the records.
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Britain has “lost control” of its borders over the last five years, the defence secretary told Sky News after the highest number of migrants this year crossed the Channel.
John Healey told Sunday Morning With Trevor Phillips the previous Conservative government left the UK’s asylum system “in chaos” and the country with “record levels of immigration”, which his government is having to deal with.
On Saturday, 1,194 migrants arrived in the UK on 18 small boats, government figures showed – the highest number of arrivals in a day so far this year (the previous record was 825 on a day in May).
It brings the provisional total for 2025 so far to 14,811 – the highest ever recorded for the first five months in a year and the highest total for the first six months of the year, which was previously 13,489 on 30 June last year.
2025’s total so far is 42% higher than the same point last year (10,448), and 95% up from the same point in 2023 (7,610).
The highest daily total since data began in 2018 remains at 1,305 on 3 September 2022.
Image: Migrants were seen scrambling to get on small boats in the shallows of a beach at Gravelines, France, on Saturday. Pic: PA
On Saturday, French police watched on while people, including children, boarded small boats in the shallows of a beach in Gravelines, between Calais and Dunkirk.
Authorities were then pictured escorting the boats as they sailed off towards the UK.
Mr Healey said: “Pretty shocking, those scenes yesterday.
“Truth is, Britain’s lost control of its borders over the last five years, and the last government last year left an asylum system in chaos and record levels of immigration.”
He said it is a “really big problem” that French police are unable to intervene to intercept boats in shallow waters.
Image: Migrants waited for the boats to come to the beach before wading in to the shallows to board. Pic: PA
“We saw the smugglers launching elsewhere and coming around like a taxi to pick them up,” Mr Healey added.
He said the UK is pressing for the French to put new rules into operation so they can intervene.
“They’re not doing it, but for the first time for years, for the first time, we’ve got the level of cooperation needed,” Mr Healey said.
“We’ve got the agreement that they will change the way they work, and our concentration now is to push them to get that into operation so they can intercept these smugglers and stop these people in the boats, not just on the shore.”
Image: Migrants waited on the beach at Gravelines before boarding boats to the UK. Pic: PA
Image: People waded through the shallows to get on small boats. Pic: PA
On Saturday, Conservative shadow home secretary Chris Philp accused Labour of having “completely lost control of our borders”.
The Home Office released figures on Thursday that revealed France is intercepting fewer Channel migrants than ever before, despite signing a £480m deal with the UK to stop the crossings.
Image: French police watched on as migrants boarded the boats in the water at Gravelines. Pic: PA
Image: French authorities escorted the boats after they left the beach. Pic: PA
This year, French police have prevented just over 38% (8,347) of asylum seekers from reaching the UK in small boats, with 13,167 having made the journey successfully.
They stopped an estimated 45% last year and 47% in 2023.