Jersey Mike’s Subs Announces $1B+ IPO on NYSE Under Ticker ‘JMKE’
Tinton Falls, NJ — July 9, 2026 — The renowned sandwich chain, Jersey Mike’s Subs, supported by the private equity titan, Blackstone, has officially filed for an initial public offering. The company aims to raise over $1 billion at a minimum valuation of $12 billion. The plan is to list on the New York Stock Exchange under the ticker symbol “JMKE.”
The S-1 registration statement was filed with the U.S. Securities and Exchange Commission on July 2, 2026. The document reveals impressive growth metrics:
- Cumulative same-store sales growth of 50% from 2020 to 2025
- Average unit volumes of $1.4 million
- Total revenue reaching $724 million in 2025 — a rise of approximately 11% from $653 million in 2024
- Net income leaped to $55 million in 2025 from a mere $5 million the prior year
Jersey Mike’s, founded in 1956 as a modest Point Pleasant, NJ shop, has evolved into the second-largest sandwich chain in the U.S. after Subway. The chain now boasts nearly 3,300 locations — about 2,000 of which were inaugurated in the last decade alone.
The IPO comes less than two years after Blackstone acquired a majority stake. The offering is being coordinated by Morgan Stanley, Jefferies, and JPMorgan. Current CEO Charlie Morrison, the former Wingstop chief who guided that chain through its own IPO, is now at the helm.
Source: CNBC — Sandwich chain Jersey Mike’s files for IPO, reports 50% same-store sales growth