Once seemingly impossible to escape at American strip malls, Subway is now quietly disappearing from them. The sandwich giant closed a net 729 U.S. locations in 2025 alone — its steepest decline since 2021 — bringing its total footprint down to roughly 18,700 restaurants, according to franchise disclosure documents reviewed by multiple industry outlets.
The closures also marked a continuation of the chain’s long-running retreat from the American fast-food landscape. In 2024 alone, Subway shut down roughly 630 restaurants, bringing its U.S. footprint below 20,000 stores for the first time in two decades.
Where Does Subway Stand?
Just a decade ago, Subway operated more than 27,000 locations across the country, meaning that the chain has shed nearly 30% of its U.S. stores since 2015, which is roughly equivalent to wiping out the entire domestic footprint of Taco Bell. And although Subway closed more than 700 stores, it is still technically the largest restaurant chain in America by store count, albeit that title is more of a participation trophy.
According to industry estimates, the average Subway location generates around $500,000 in annual sales, a number that looks painfully small next to rivals like Jersey Mike’s Subs, whose average locations reportedly bring in closer to $1.4 million.
How Subway is Hanging On
Even after years of menu revamps, marketing pushes, ingredient upgrades, and endless reminders that the bread is “fresh,” many franchisees are still struggling to stay afloat as labor, rent, and food costs continue to climb.
Now the company is trying just about everything short of physically dragging people back through the door. In April, Subway launched its first-ever value menu in its nearly 60-year history, introducing a “Fresh Value Menu” featuring 15 items under $5, including $3.99 deli sandwiches and a rotating “Sub of the Day” deal.
The move came just months after Subway also revamped its loyalty rewards program following backlash from franchisees who argued previous discounts were cutting too deeply into profits. Despite the store closures, Subway still managed to bring home some extra cheddar in 2025, reporting $688 million in net income — up from $397 million the year before and just $15 million in 2023.
That jump was largely attributed to lower operating expenses, which is corporate-speak for spending less money while hundreds of franchise locations quietly vanish from the map.
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