Subway lost a net of 631 U.S. restaurants in 2024, continuing a years-long slide.
The sandwich chain finished the year with 19,502 domestic units, marking the first time the brand has been below 20,000 in about 20 years. It reached a peak of more than 27,000 stores in 2015.
The declines began in 2016 and have persisted. Since then, Subway has lost a net of approximately 7,600 stores, including over 1,000 in 2018, 2020, and 2021.
| Year | Drop in Unit Count |
| 2016 | -357 |
| 2017 | -866 |
| 2018 | -1,108 |
| 2019 | -996 |
| 2020 | -1,601 |
| 2021 | -1,043 |
| 2022 | -571 |
| 2023 | -443 |
| 2024 | -631 |
However, the brand is still the largest restaurant chain in the U.S. in terms of footprint. The next highest is Starbucks, which ended its 2024 fiscal year with 16,935 U.S. shops. McDonald’s is third at 13,559.
The chain has been more successful with international expansion. Subway has more than 10,000 units in its international pipeline from deals struck over the past three years. The sandwich giant has nearly 37,000 restaurants worldwide, making it the third-largest restaurant chain in the world, trailing McDonald’s and Starbucks.
“Subway achieved positive global net restaurant growth for the second consecutive year,” a Subway spokesperson said in an emailed statement to QSR magazine. “With nearly 37,000 locations worldwide, our focus remains on ‘Smart Growth.’ In the U.S., 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. This includes opening new restaurants as well as relocating or closing locations as needed, to ensure a consistent, high-quality and convenient guest experience.”
Despite the closure of thousands of stores, Subway is still investing in updating the U.S. portfolio. In November, the company announced a Fresh Forward 2.0 prototype that amplifies Subway’s brand personality and adds vibrant décor elements, such as bold wall graphics, localized messages and signage, elevated lighting, and warmer wood tones.
It’s a continuation of the Fresh Forward design, of which more than 20,000 restaurants across the globe—including 10,000-plus in North America—have either undergone remodels or built new locations in this modern image as of late 2024.
Subway, founded in 1965 by 17-year-old Fred DeLuca and Dr. Peter Buck, was family owned up until 2024, when it was purchased by private equity firm Roark Capital for a reported $9.6 billion.
Former CEO John Chidsey retired at the end of 2024 after serving as CEO for five years. Carrie Walsh, president of Europe, Middle East, and Africa (EMEA), is serving as interim chief executive while the sandwich giant searches for a permanent replacement.
The chain has continued to innovate around items outside of the sandwich, such as Double Chocolate Peppermint Footlong Cookie, Oreo Footlong Cookie, and Doritos Footlong Nachos.
