Jersey Mike's Subs rises on Q3 profit beat
JMKE•Jersey Mike's Subs reported Q3 adjusted EPS of 23 cents, versus 15 cents, and systemwide sales of $1.20 billion, up from $1.10 billion a year earlier. Same-store sales grew 3%, and the company expects annual growth of 2.5%.
1. Q3 results
Shares of Jersey Mike's Subs rose about 6% to $17.93. Third-quarter adjusted EPS was 23 cents, compared with 15 cents, while systemwide sales increased to $1.20 billion from $1.10 billion a year earlier. Same-store sales grew 3%, versus 3.9% growth last year. The company expects annual same-store sales growth of 2.5%, compared with its previous projection of 2.5% to 3.0%.
