Subway has called for an ‘emergency’ meeting with franchisees as sales plummet

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Subway has urgently convened a meeting with its franchisees from the 19,000 North American locations as they face declining sales and profits, The Post has learned.The fast-food chain, which was acquired in April for $9 billion by Roark Capital, owner of Dunkin, Arby’s, and Baskin Robbins, has informed franchisees that it will present plans to boost customer traffic and regain market share at a meeting scheduled for Thursday.“This conference is crucial,” Subway stated in the invitation. “Join us to discuss the current state of the industry and receive an update on our business.”A Subway spokesperson refuted the claim of an “emergency” meeting, stating, “There is no emergency virtual conference. We regularly and proactively update our franchisees on business developments and strategies.”Discounting has recently become a point of contention.A Subway franchisee with nearly 20 stores told The Post that same-store sales have dropped by 5% to 10% in recent weeks compared to the previous year, attributing the decline to the chain’s recent price promotions.“They are offering excessive coupons,” the franchisee said. “Our gross sales haven’t reached 2012 levels, and profits were five times higher then than they are now.”The franchisee noted that the discounts barely cover operational costs. In a recent national ad campaign, NBA star Charles Barkley has been promoting a “Buy any foot-long in the app and get one free” offer.“Charging $6.99 for any sub when they are priced at $11 on the menu,” the franchisee complained. “And offering three sandwiches for $17.99.”