Jersey Mike’s television commercials feature actor Danny DeVito and former New York Giants quarterback Eli Manning, lately in friendly competition with each other over who is the best brand spokesperson.
In its first earnings report since going public this summer, Jersey Mike’s reported a 2.3 percent increase in same-store sales in this year’s second quarter.
“Our second quarter same-store sales demonstrate strong progress against our long-term objective of achieving $2 million average unit volumes,” CEO Charlie Morrison said on the call, which was held September 9. Jersey Mike’s average unit volume is about $1.4 million. “Same-store sales grew 2.3%, accelerating from the first quarter, driven by continued momentum and transaction growth. That performance meaningfully outpaced the broader fast-casual industry, where traffic remains under pressure.”
Some stores are already surpassing that $2 million goal. “So we know the store footprint can support these volumes,” Morrison said.
The brand added 83 new stores and system sales were $1.2 billion in Q2, up 10 percent, or about $100 million, year over year. Total revenue likewise was up 10 percent, to $208 million, according to its Q2 earnings report. It ended the quarter, which closed June 28, with 3,378 stores, 30 of which are international locations and 26 of which are corporate owned. Jersey Mike’s closed five restaurants in Q2.
Jersey Mike’s held its initial public offering July 30 at $23 a share, in which it raised about $1 billion. Its closing share price yesterday was $21.87.
Looking at the rest of 2026, the company expects same-store sales growth to be between 2.5 and 3 percent for the full year and 3 to 4 percent for just the third quarter, according to its earnings report.
Same-store sales increases are mostly coming from increased transactions, Chief Financial Officer Michele Allen said on the call.
(She noted that Jersey Mike’s isn’t seeing disruption from the outbreak of cyclospora seen at Taco Bell and other companies. Allen said the chain buys heads of lettuce, rather than bagged or pre-cut lettuce, which is the common source of the illness.)
The sandwich franchise, which is based in New Jersey, projected an 8 percent rise in unit count.
Charlie Morrison is the CEO of Jersey Mike's.
Total revenue for the 26 weeks ending June 28 totaled $393 million, per the brand.
To hit that $2 million AUV benchmark, Jersey Mike’s established some strategies. Its focuses for the long term are increasing its digital and delivery sales, broadening its customer base and driving repeat visits, innovating menu items and expanding its store count, according to the sales presentation.
Jersey Mike’s is already boosting its digital sales orders, which make up 43 percent of total sales, up from 41 percent last year. Its goal is to reach 60 to 70 percent of sales, Morrison said.
“This growth occurred without the benefit of significant contribution from our first-party delivery channel. As we build out our first-party data capabilities, we will begin to more fully leverage this channel and accelerate penetration further,” he said on the call.
It’s increased its digital media spending from less than 1 percent to more than 20 percent, which Morrison said is showing results.
“Loyalty registrations are up 22 percent year to date, and we've seen our ad awareness among Hispanic guests increase 6 percent year-over-year,” Morrison said. “Digital media gives us the ability to reach more diverse Gen Z consumers who are familiar with Jersey Mike's but may not be frequent customers today.”
Jersey Mike’s television commercials feature actor Danny DeVito and former New York Giants quarterback Eli Manning, lately in friendly competition with each other over who is the best brand spokesperson.
“Danny and Eli are fantastic fit for the brand,” Allen said. “I think when you see what we have up our sleeve for the fourth quarter, you're going to be pretty entertained and excited about the ongoing debate between who's the more prominent spokesperson in the brand. What I'll tell you is we love both of them. They both are New Jersey people. They're excited about the brand, and they both fit a unique positioning and posture for the brand.”
The private equity firm Blackstone bought Jersey Mike’s in 2024 at an $8 billion valuation. Morrison came on board soon after, taking over for founder and former CEO Peter Cancro.
“Ever since the transition with Blackstone and myself coming on board, putting the team together, we knew we had a once-in-a-generation type of asset here at Jersey Mike’s to bring to the market,” Morrison told Franchise Times on the day of its IPO.
In January, Cancro announced plans to lead the brand’s development push into the United Kingdom and Ireland with a 400-unit agreement.
