Jersey Mike's Falls 5.7% in NYSE Debut After $913 Million IPO
Updated
Updated · Yahoo Finance · Jul 30
Jersey Mike's Falls 5.7% in NYSE Debut After $913 Million IPO
3 articles · Updated · Yahoo Finance · Jul 30
Summary
Jersey Mike's closed down 5.7% on its first trading day after pricing its IPO at $23 and opening at $21 under ticker JMKE.
More than 43 million shares raised $913 million and valued the sandwich chain at $7.3 billion, making it one of the restaurant sector's largest recent public debuts.
The chain entered the market with strong operating momentum: 2025 systemwide sales rose 13% to $4.3 billion, while same-store sales have grown 50% since 2020.
About 3,300 U.S. locations and a 99% franchised model underpin expansion plans for 7,500 more domestic stores, plus 300 each in Canada and the UK-Ireland over time.