Jersey Mike's CEO on Trading Debut, Supply Chain and Demand Growth

Summary

Jersey Mike's CEO Charlie Morrison discusses the company's IPO, highlighting 20 consecutive years of same-store sales growth and a resilient franchise model. He addresses market volatility, plans for debt reduction and future shareholder returns, international expansion into the UK, supply chain independence from the cyclospora outbreak, and dismisses social media claims about quality changes. The interview reinforces a bullish long-term outlook for the newly public brand.

• Jersey Mike's CEO defends IPO timing despite market choppiness and peer stock declines.
• Cites 20 years of positive same-store sales growth and traffic-driven momentum exiting Q2.
• Proceeds will initially pay down debt, with future capital returns to shareholders expected.
• International expansion planned, starting with the UK, leveraging authentic deli-style subs.
• Supply chain unaffected by cyclospora outbreak; lettuce sourced from Salinas, not Mexico.
• Dismisses social media claims that Blackstone ownership changed sandwich quality or size.
• Diverse protein lineup and volume purchasing keep food costs industry-low at ~27% of sales.
• Long-term algorithm targets low single-digit same-store sales growth balanced between price and transactions.