Jersey Mike's Sees Q3 Transaction Momentum Continuing, Truist Says
MT Newswires Live
14 hours ago
Jersey Mike's Subs (JMKE) saw same-store sales growth accelerate to 2.3% in Q2 from 1.3% in Q1, driven by transactions, with momentum continuing into Q3, Truist said in a note Wednesday.
Systemwide sales rose about 10% to $1.21 billion, while revenue increased 10% to $208 million, according to the brokerage. Digital sales mix rose about 200 basis points year over year to 43%, Truist said.
Management expects Q3 same-store sales growth of 3% to 4% and 2026 growth of 2.5% to 3.0% and adjusted EBITDA growth of at least 13% in Q3 and 20% for 2026, according to the brokerage.
Truist maintained the company's buy rating and $30 price target.
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