Deep Dive
The Filing and the Numbers
Jersey Mike's officially filed for an IPO on the New York Stock Exchange under ticker JKME on Thursday. System-wide sales hit $4.3 billion in 2025, up 13% from $3.7 billion the prior year. Same-store sales grew 3% last year despite consumers cutting spending across the board — a meaningful signal of customer stickiness in a cost-conscious environment.
Franchise Model and Growth Plans
The company operates 99% franchised locations, currently at around 3,000 units across all 50 states. Jersey Mike's plans to open 7,500 more US locations with an eventual goal of 15,000 worldwide. Founder Peter Cancro, who started at the company at age 14 and bought it out at 17, handed day-to-day operations to Charlie Morrison, the former Wingstop CEO, after Blackstone took a majority stake in 2024.