Sandwich chain Jersey Mike's files for IPO, reports 50% same-store sales growth in recent years

Jersey Mike's filed for an IPO on Thursday, disclosing that same-store sales climbed 50% cumulatively from 2020 through 2025. The sandwich chain operates nearly 3,300 locations, making it the second-largest hoagie chain in the U.S. behind Subway.

The filing marks the latest restaurant chain to test public markets after years of unit expansion. Jersey Mike's reported the 50% same-store sales gain over a five-year period that includes the pandemic recovery and subsequent inflationary environment. The company plans to list shares on an exchange, though pricing and timing details were not disclosed in the initial filing.

With 3,300 locations, Jersey Mike's trails only Subway in the hoagie segment, positioning itself as a scaled player in the competitive fast-casual sandwich market. The chain's five-year same-store sales growth offers a window into pricing power and traffic trends across its footprint during a period when many restaurant concepts struggled with labor costs and changing consumer habits.