Jersey Mike's stock opens at $21 per share, valuing the sandwich chain just shy of $1 billion

1 month ago 15

Thu, July 30, 2026 astatine 12:27 PM CDT 2 min read

Jersey Mike's (JMKE) made its nationalist debut connected Thursday, and investors were anxious to get a wound of the sandwich chain.

The company, backed by Blackstone Inc. (BX) and the Abu Dhabi Investment Authority, offered much than 43 cardinal shares. It opened astatine $21 per share, conscionable beneath its archetypal nationalist offering (IPO) terms of $23. It is present officially listed nether the ticker awesome "JMKE" connected the New York Stock Exchange.

Blackstone took a bulk involvement successful the concatenation successful November of 2024 and soon aft tapped manufacture seasoned and erstwhile WingStop (WING) CEO Charlie Morrison to pb the company.

This nationalist debut, which is 1 of the largest successful the edifice industry, marks the adjacent section for the Point Pleasant, New Jersey-based chain, but the concern is already booming.

According to the regulatory filing, Jersey Mike's same-store income grew by 50% betwixt 2020 and 2025. In 2025, systemwide income accrued 13% twelvemonth implicit twelvemonth to scope $4.3 billion.

Sales maturation for restaurants unfastened for astatine slightest a twelvemonth accrued 3% successful 2025, continuing astir 20 consecutive years of affirmative growth.

Former NFL New York Giants Quarterback Eli Manning, Actor Danny DeVito, Jersey Mike's Subs CEO Charlie Morrison and institution Executives observe aft ringing the opening doorbell astatine the New York Stock Exchange to observe the companies Initial Public Offering (IPO) during greeting trading connected July 30, 2026 successful New York City. All 3 large indexes roseate astatine the opening of trading a time aft the Federal Reserve decided to clasp rates steady, which saw the Dow Jones suffer implicit 1000 points. (Photo by Michael M. Santiago/Getty Images)

The chain, which franchises 99% of its locations, has been rapidly expanding its store footprint too.

There are present astir 3,300 Jersey Mike's locations crossed the US successful each 50 states. The institution believes determination is inactive country for maturation successful the US, readying to unfastened 7,500 much stores domestically.

Jersey Mike's has entered an statement to unfastened 300 stores successful Canada by 2034. The institution besides secured an archetypal improvement statement for 300 stores successful the UK and Ireland. Over the long-term, it plans to scope astir 15,000 stores globally.

Correction: A erstwhile mentation of this nonfiction misstated Jersey Mike's valuation. We regret the error.

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