JERSEY MIKE'S FILES FOR IPO ON NEW YORK STOCK EXCHANGE

Jersey Mike's, a sandwich chain backed by Blackstone, filed for an initial public offering on Thursday with plans to trade on the New York Stock Exchange under the ticker "JMKE". The company reported net income of $55 million on total revenue of $724 million in 2025, according to its regulatory filing. Jersey Mike's annual system sales, which includes both company-owned and franchised locations, reached $4.3 billion last year, up 13% from 2024. Same-store sales increased 3% over the same period, a metric that tracks sales growth at restaurants open for at least one year.

Jersey Mike's operates nearly 3,300 locations, making it the second-largest hoagie sandwich chain in the United States behind Subway. Approximately 2,000 of these restaurants opened in the last decade. Nearly all of Jersey Mike's restaurants are franchised, meaning the bulk of its revenue comes from royalties and advertising fees rather than company-owned sales. The company reported that its same-store sales cumulatively climbed 50% from 2020 through 2025. The filing comes as the restaurant industry has recorded weaker same-store sales performance over the past two years, with consumers dining out less frequently.

Jersey Mike's confidentially filed for an initial public offering in April. The company's IPO filing joins increased listing activity in the United States, with more companies filing to go public this year compared to the year-ago period, according to Renaissance Capital. Other companies including OpenAI and Anthropic have submitted confidential filings with the Securities and Exchange Commission.