Jersey Mike’s reports third quarter financial results
The company announces updated full-year outlook, a $100 million share repurchase authorization, and a special dividend.
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Sub sandwich restaurant chain
jerseymikes.comLast updated
In short: Jersey Mike’s reported results, projected at least 20% adjusted EBITDA growth and authorized a $100 million buyback.
The company announces updated full-year outlook, a $100 million share repurchase authorization, and a special dividend.
The company achieved 10% revenue growth driven by same-store sales increases and net unit expansion to over 3,378 locations.
The company sold 43.5 million shares at $23 each, raising about $1 billion for debt repayment and general corporate purposes.
The company priced 43.48 million shares at $23.00 each, expecting to trade on NYSE under JMKE on July 30.
Jersey Mike's Subs (JMKE) reported fiscal Q3 adjusted earnings Wednesday of $0.23 per diluted share. Year-earlier comparisons were not available. Revenue for the quarter ended...
"the updated guidance implies... at least 3% comps in the fourth quarter" and "the fourth quarter guide implies... a deceleration" and "any impact from the...
The sandwich chain said third-quarter revenue rose 10% to $209 million, with same-store sales improving 3%.
Jersey Mike’s will open its first UK restaurants in London this November, with sites on Argyll Street, New Oxford Street, Baker Street and Cranbourn Street.
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