Subway is launching a $6.99 footlong deal on Monday – joining the value menu wars to draw back inflation-battered customers as sources say the sandwich chain’s sales are faltering.
Under the deal, Subway customers can order any footlong sub on the menu, or customize their own, for $6.99.
The deal ends Sept. 8.
It’s not $5, but customers will save big on subs that currently sell for as much as $14.
Subway CEO John Chidsey revealed the deal during an “emergency” last-minute franchisee meeting,
The Post exclusively reported last week.
The CEO made it sound like the brand was in a dire situation, sources previously told The Post.
Since Subway is a privately-held company, it doesn’t report its sales figures like its public peers do.
But the sandwich chain is experiencing same store sales declines in certain regions of more than 8% in recent weeks compared to last year – worse than similarly-struggling rivals like McDonald’s and Burger King, The Post exclusively reported.
The revived footlong deal is Subway’s latest attempt to win back cash-strapped customers.
“Today’s diner is stretched more than ever, and too often that means a tradeoff on quality, variety or flavor to find an affordable meal,” Subway North America President Doug Fry said in a statement. “At Subway, our definition of value is a mix of delicious options at the right price without compromising quality.”
The only catch? Customers must order through the Subway app or Subway.com using the promo code 699FL to get the deal.
The online purchase requirement is a loyalty grab pushed in hopes customers will download the app, sign up for Subway’s MVP Rewards program and visit stores more often.
It’s nothing new — McDonald’s offers a Free Fries Friday deal through the end of the year for customers who make a minimum purchase through the app.
Subway — which sold itself in April for $9 billion to Roark Capital, owner of Dunkin, Arby’s and Baskin Robbins — owns none of its own stores and many franchisees are barely turning a profit, sources previously told The Post.
The company has been trying to entice customers with a variety of deals, including buy-one-get-one-free sub promotions and a value menu of sweet and savory snacks for $5 or less.
Subway heavily promoted its Dippers snacks, which are cheesy rolled-up flatbreads, in the hopes that customers would buy the flatbreads to pair with footlong subs — but the Dippers aren’t selling.
Subway switched out its pre-sliced cold cuts with freshly sliced meats and is reportedly planning to offer a value meal, including a four-inch sandwich, soup, chips and two cookies for $6.
The value menu and promotions are attempts to counter the chain’s flailing store count. It closed more than 400 restaurants in the US last year – ending the year with about 20,000 stores, its lowest number since 2005.
Fast-food rival McDonald’s reported its first sales drop in July since 2020, struggling to hold onto customers frustrated by inflated menu prices.
The company extended its uber-popular $5 Meal Deal at most of its locations through August after the burger chain saw improved sales and site traffic from the value meal.
And Burger King sales fell in the second quarter, despite reviving its own $5 value meal in June ahead of McDonald’s similar launch.
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