Jersey Mike's Subs Inc.

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Jersey Mike's forecasts 2026 same-store sales growth of 2.5% to 3%

Jersey Mike's Subs Inc. expects 2026 same-store sales growth of 2.5% to 3% and at least 20% adjusted EBITDA growth, as it reported second-quarter results that showed accelerating transaction-led growth. In the second quarter, same-store sales grew 2.3%, accelerating from the first quarter, and system-wide sales reached approximately $1.21 billion, up 10% year-over-year. The company opened 83 new stores in the quarter, bringing the total to 3,378, with a pipeline of more than 1,600 units, of which over 1,400 are signed and committed. Following its initial public offering, Jersey Mike's sold 43.5 million shares, generating about $300 million in primary proceeds used to repay debt, leaving net debt of approximately $1.5 billion and a leverage ratio of about 4.4 times. For the third quarter, the company expects same-store sales growth of 3% to 4% and adjusted EBITDA growth of at least 13%, with net interest expense of approximately $28 million.

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Investors Await PPI and CPI Data as Oil Tops $100

Investors are bracing for key inflation data later this week as oil prices surge past $100 per barrel for the first time since late July, with WTI at $95 and Brent at $100, up 2.8% amid the Strait of Hormuz conflict. Pre-market futures are lower, with the Dow down 279 points, the S&P 500 down 25, and the Nasdaq down 172, while bond yields remain elevated. Thursday's Producer Price Index for August is forecast to rise 5.3%, up from July's 4.7%, and Friday's Consumer Price Index is expected to hold at 3.4%, with core CPI at 2.5%. In earnings, Jersey Mike's Subs reported Q2 revenues of $208 million, matching consensus, and raised same-store sales guidance, while J. Jill posted a 110% earnings surprise and Signet Jewelers beat estimates, sending shares higher.

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John Ternus's First Apple Product Launch as CEO: What to Watch

Apple is kicking off a new era with COO John Ternus taking the stage for the first time for the company's iPhone event, expected to include the debut of Apple's first foldable iPhone as well as upgrades to its iPhone models and the Apple Watch lineup. Investors can also expect an earnings bash that includes Jersey Mike's, Chewy, and American Eagle, with Jersey Mike's reporting its first quarterly financial results as a public company. Wall Street will be watching Jersey Mike's pricing power and traffic amid high food costs, while American Eagle and Chewy will offer insights on consumer spending, with focus on American Eagle's ability to beat earnings expectations and Chewy's sales momentum and profitability.

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Jersey Mike’s Subs Stock Drops 5.7% in Debut After $913 Million IPO

Jersey Mike’s Subs shares fell 5.7% in their first trading session after the company raised roughly $913 million in its initial public offering on the New York Stock Exchange. The sandwich chain, backed by Blackstone and the Abu Dhabi Investment Authority, priced its IPO at $23 per share, the midpoint of its marketed range, but opened at $21 and closed at $21.63 on July 30. The offering valued the company at about $7.3 billion, with proceeds intended mainly to reduce debt and for general corporate purposes. For the quarter ended March 29, 2026, revenue rose 33.1% year-over-year to $185 million, while adjusted EBITDA jumped 50% to $84 million, though a net loss of $24 million was recorded due to one-off costs including $28 million in Area Director buyouts. Melius Research initiated coverage with a Buy rating and a $30 price target, implying roughly 35% upside, citing the brand’s position as the only scaled premium player in a category where Subway is shrinking.

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