In the meantime, no list has been released yet to determine which Subway stores will close.
Subway Restaurants is projecting it will shutter roughly 500 locations across the U.S.as it expands the sandwich brand globally. Quite the contrary. While Subway will close restaurants in the US they plan to open 1,000 new restaurants overseas. The sandwich chain has more than 50 stores in Northeast Ohio.
Sandwiches can be found in fast-food chains, gas stations, Panera Bread, Starbucks, and even outlets not previously seen as competitors such as Target and Walgreens, according to Fortune.
"Looking out over the next decade, we anticipate having a slightly smaller, but more profitable footprint in North America and a significantly larger footprint in the rest of the world", the company said on Wednesday.
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All Subway stores are franchise owned, rather than owned by the company. "They don't want what Subway has to offer", Bob Phibbs, CEO of the New York-based consultancy The Retail Doctor, told USA Today. In 2015, Fogle pled guilty to possession of child pornography and traveling across state lines to engage in sex with a minor and was sentenced to close to 16 years in prison.
"People are voting with their feet".
More than 1,000 Subway locations will open outside of North America, focusing on the U.K. Germany, India, China and Mexico. It's launching a new loyalty program, remodeling stores to look sleeker and adding touch-screen kiosks for ordering. "Our commitment to the Franchisees is to work with them to make each restaurant more successful".