Sandwich chain Jersey Mike's has filed for an initial public offering (IPO) to trade on the NYSE under "JMKE," reporting $55 million net income on $724 million revenue last year and 50% cumulative same-store sales growth from 2020-2025, despite a sluggish industry.
Jersey Mike's has confidentially filed for an IPO, the company said Monday, more than a year after Blackstone bought a majority stake reportedly valuing the sandwich chain at $8 billion. The chain, with over 3,000 locations nationwide and the second-largest hoagie brand after Subway, reported 2025 revenue of $309.8 billion, up 10.6% year-over-year, though net income fell to $183.6 million from $238.8 million. Founder Peter Cancro, who started working at a Jersey Shore shop at age 14 in 1971 and bought Mike's Subs in 1975, was the outright owner until the Blackstone sale.
