Jersey Mike’s, the popular sandwich chain, has officially filed for an initial public offering (IPO) and plans to be listed on the New York Stock Exchange under the ticker symbol “JMKE.” The filing reveals strong growth, with same-store sales rising an impressive 50% from 2020 through 2025. In 2025, the company posted $724 million in revenue and $55 million in net income, up significantly from $653 million in revenue and $5 million in net income the prior year. Annual system-wide sales, which include both franchised and company-run locations, hit $4.3 billion last year, marking a 13% increase from 2024.

Today, Jersey Mike’s operates nearly 3,300 locations, making it the second-largest hoagie sandwich chain in the U.S., behind Subway. Approximately 2,000 of these outlets have debuted over the last decade, with the majority being franchised. The company's revenue primarily stems from royalties and advertising fees related to these franchise operations. Even as many restaurant operators face challenges with same-store sales softening industry-wide, Jersey Mike’s has maintained steady growth, reporting a 3% increase in same-store sales in 2025 despite a more conservative dining climate.

Jersey Mike’s recent decision to go public follows its acquisition by private equity giant Blackstone in a deal valued at about $8 billion, completed in late 2024. Blackstone’s involvement is expected to support the chain’s ongoing expansion initiatives both domestically and internationally. After the acquisition, Charlie Morrison took the helm as CEO, bringing extensive experience from leading Wingstop, including guiding that company through its IPO. Founder Peter Cancro, who purchased the original Mike’s Subs decades ago and launched Jersey Mike’s, continues to hold significant equity and a board seat, emphasizing a long-term partnership with Blackstone.

The timing of Jersey Mike’s IPO filing aligns with a renewed surge of optimism among companies about public market debuts, especially following high-profile offerings such as SpaceX. Though the overall number of IPOs priced this year has lagged compared to last year, filings for future offerings have picked up, including from major players in artificial intelligence. Jersey Mike’s expansion plans include opening hundreds of new locations overseas, signaling a clear ambition to grow the brand’s footprint beyond the U.S. market as it prepares to become a publicly traded company.