By Heather Haddon
Jersey Mike's profits shot up last year, though the sandwich chain said that sales growth has been mixed in recent months as it gears up for a potential public offering this year.
The New Jersey-based sub sandwich maker said Thursday in its initial registration filing that net income jumped to $55 million in its 2025 fiscal year, up from $5 million the year before, due to more royalties and lower founder-related discretionary expenses. Same-store sales grew 2.3% in the 13 weeks ended June 28, down from 3.6% in the previous year's period.
New marketing and a chicken salad offering have helped in June, the chain said. "We are building a brand with global, long-term endurance," CEO Charlie Morrison said in the fling.
Jersey Mike's would be one of the first major restaurant IPOs since Cava Group went public in 2023, and a test of investor appetite for the challenged sector. Peter Cancro, the chain's founder and sole owner, sold a majority position to private-equity firm Blackstone in 2024.
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