WASHINGTON (dpa-AFX) - Jersey Mike's, the sandwich chain, is looking to go public with an initial offering, planning to trade its shares on the New York Stock Exchange under the ticker JMKE. This move comes as the chain reports impressive financial growth and continues to expand its restaurant footprint.
For 2025, Jersey Mike's posted a net income of $55 million on revenues of $724 million, a significant jump from the previous year's net income of $5 million and $653 million in revenue.
Total systemwide sales, which encompass both company-owned and franchised locations, increased by 13% to reach $4.3 billion, with same-store sales going up by 3% for the year. Over the span from 2020 to 2025, the chain reported a remarkable 50% growth in its cumulative same-store sales, outperforming many other restaurant chains in a tough consumer market.
Operating nearly 3,300 locations, Jersey Mike's ranks as the second-largest sandwich chain in the U.S., trailing only Subway. The bulk of its restaurants are franchised, and most of its revenue comes from franchise royalties and advertising fees.
The IPO filing arrives at a time when investor interest in new listings is on the rise, especially following several notable public offerings. Back in 2025, Blackstone took a majority stake in Jersey Mike's, with the deal estimated to value the company at around $8 billion.
Founder Peter Cancro, who acquired the original Mike's Subs in 1975 and turned it into Jersey Mike's, will keep a significant equity stake and continue to be part of the company's board.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
