Subway CEO expects 2023 to provide pricing pressure| MENAFN.COM

Friday, 24 March 2023 02:48 GMT

Subway CEO expects 2023 to provide pricing pressure

(MENAFN) Subway boss John Chidsey is speaking up on a fiscally agonizing issue that food-industry consumers have fought off for ages – inflation-induced pricing pressure.

Chidsey informed FOX Business host Maria Bartiromo, Thursday, that franchisee success is "looking up," a hopeful declaration that might contribute to pricing pressure "relief" this year.

"We've taken some pricing; I'd say we're pretty much in line with the rest of QSR. Actually, in 2023, I think we're going to see a decrease in terms of maybe 200 to 300 basis points, in terms of the food basket cost that our franchisees are facing. So, not back to the levels it was, but I think we're through the worst part of that," the Subway CEO made a statement on "Mornings with Maria."

He also said "I think things are actually looking up, from a franchisee profitability standpoint."


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