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Wow! This comes as a shocker. After closing about 800 stores last year, Subway is about to close 500 more stores. According to reports, the world’s largest restaurant chain, can’t keep up with changing consumer tastes and growing competition.
Source: Scott Olson / Getty
Cheif Executive, Bob Phibbs, said, “We aren’t eating the way we used to, and luncheon meats are just not what most people are clamoring for,” Bob Phibbs, chief executive of the Retail Doctor, a New York-based consultancy told The Post. “Let’s face it: If you’re in a major metropolitan area, you’re looking for that green salad place. You’re not saying, ‘Let’s all go to Subway and order through the sneeze guard.’
“I don’t think there’s a clear path for Subway,” said Phibbs, the retail consultant. “It’s just not what people want anymore.”
The chain has dropped $25 million this year on a new campaign aimed at a younger audience. Are you surprised? Do you still eat at Subway?
