Subway, once the dominant presence in American fast food, has slipped below 20,000 restaurants nationwide for the first time in roughly 20 years — continuing a multiyear contraction that stands in contrast to its growing international ambitions.
According to data released by the company, Subway ended 2024 with 19,502 US locations — down a net 631 stores from the previous year.
In less than a decade, Subway has reduced its US footprint by nearly a third. At its peak, Subway operated more than 27,000 restaurants in the US in 2016.
Since then, Subway has shed approximately 7,600 US locations, with more than 1,000 closures each in 2018, 2020, and 2021.
In December, The Post reported that Subway had long ignored “screams for help” from its struggling franchisees and that the company was in danger of being “gobbled up” by a faster-growing rival Jersey Mike’s.
Despite the shrinking footprint, Subway still retains the title of the largest US restaurant chain by unit count.
Starbucks follows with 16,935 domestic stores and McDonald’s is third with 13,559.
But Subway’s domestic retrenchment represents a dramatic reversal for a brand that once defined the quick-service category.
A Subway spokesperson acknowledged the trend in a statement to QSR Magazine, emphasizing the company’s “Smart Growth” strategy.
“In the US, we are optimizing our footprint using a strategic, data-driven approach to ensure restaurants are in the right location, image and format and operated by the right franchisees,” a company spokesperson told QSR Magazine.
As US locations dwindle, Subway is doubling down on international markets.
The company has secured commitments for more than 10,000 new restaurants globally through master franchise deals struck over the past three years.
In 2024 alone, Subway signed seven master franchise agreements, enabling its entry into countries such as Paraguay and Mongolia and expanding its presence in Europe and Latin America.
“Subway achieved positive global net restaurant growth for the second consecutive year,” the spokesperson said.
“Our focus remains on Smart Growth.”
Subway now operates nearly 37,000 restaurants worldwide, making it the third-largest restaurant chain globally — trailing only McDonald’s and Starbucks.
Much of this expansion has come through nontraditional venues like Walmart, Aramark locations and travel centers, which now make up about a quarter of Subway’s global footprint.
The chain has also been expanding in airports and on university and hospital campuses in Mexico and Spain.
“By working with the right partners, we are making significant strides in modernizing our brand image… and growing digital sales,” Mike Kehoe, Subway’s global chief development officer, told QSR Magazine.
To support its modernization efforts, Subway introduced its Fresh Forward 2.0 prototype in late 2024, featuring brighter, localized design elements and improved service layouts.
Over 20,000 restaurants worldwide, including more than 10,000 in North America, have been remodeled or built under the Fresh Forward concept.
Founded in 1965 by Fred DeLuca and Dr. Peter Buck, Subway remained family-owned until private equity firm Roark Capital acquired it in April 2024 in a deal reportedly worth $9.6 billion.
Former CEO John Chidsey stepped down at the end of the year, with EMEA President Carrie Walsh stepping in as interim chief executive.
While global same-store sales rose 6.4% in 2023, and North American sales increased 5.9%, the brand’s US footprint continues to contract — a sign that Subway’s domestic challenge remains unresolved even amid modernization and growth abroad.
