Subway ending $6.99 value meal early, reports say

(NEXSTAR) — National sandwich chain Subway is ending its value meal deal earlier than anticipated, according to reports.

Citing a memo shared with Subway operators on Friday, Restaurant Business Magazine reports the company is ending its $6.99, 6-inch Meal Deal on Wednesday, Nov. 27. The promotion was scheduled to run through December 26.

With the deal, which began on November 3 in honor of National Sandwich Day, customers could order a six-inch sub, a small fountain drink, and a bag of chips or two regular cookies. It was touted as a value option when Subway unveiled it.

According to the message viewed by Restaurant Business Magazine, the meal deal overall "is not driving anticipated results."

Subway did not immediately respond to Nexstar's request for comment, but told multiple outlets its "approach to value is thoughtful and strategic, leveraging data to help balance consumer needs while protecting franchisee profits."

While the company did not directly address the meal deal, the statement said it takes "feedback and data seriously, and if needed, we quickly adjust course to ensure we're doing what's best for our franchisees, guests and overall business."

Instead, Subway plans to offer a digital deal giving customers 20% off any sub through January 5, according to Restaurant Business Magazine.

Last year, Subway was acquired by Roark Capital, a private equity firm with expertise in restaurant management. At the time, the company said it planned to continue to modernize restaurants and expand internationally under Roark’s ownership.

Subway was founded in 1965 and is now one of the world’s largest restaurant chains, with 37,000 outlets in more than 100 countries.

But in the U.S., it has been losing market share in recent years to fast-growing rivals like Panera and Firehouse Subs, which feature more varied menus and newer stores.

Subway has been trying to catch up; in 2021 it refreshed its menu and in 2022 it announced a line of chef-developed sandwiches after finding that customers were tired of Subway’s traditional model of letting customers build their own sandwiches. Earlier this year, Subway announced it was ditching Coca-Cola products, effective in 2025.

The Associated Press contributed to this report.