The sandwich chain publicly filed an SEC Form S-1 for a proposed Class A share sale after reporting stronger sales and earnings, with Morgan Stanley, Jefferies and J.P. Morgan leading the underwriting.
Jersey Mike's Subs Inc. said it has publicly filed a registration statement on Form S-1 with the SEC for a proposed initial public offering of Class A common stock and plans to list on the New York Stock Exchange under the ticker JMKE. The company did not disclose the number of shares to be sold or a price range, and said the offering remains subject to market conditions and the registration becoming effective. In the filing, Jersey Mike's reported 2025 net income of $55 million on revenue of $724 million, up from $5 million on $653 million in 2024, with system sales of $4.3 billion, up 13%, and cumulative same-store sales growth of 50% from 2020 through 2025, including 3% growth in 2025. The chain has nearly 3,300 locations, nearly all franchised, and said Blackstone's majority investment and franchising experience support further expansion in the United States and abroad.