Sandwich seller Jersey Mike's gains after maiden report since IPO

Jersey Mike's Subs

09/09/2026 17:35

** Shares of Jersey Mike's Subs JMKE.N up 7.7% at $22.42 on Weds after first qtrly report since Blackstone-backed BX.N firm's public debut in July
** Sandwich chain earlier in the day said Q2 same-store sales (SSS) increased 2.3% yr/yr, primarily driven by transaction growth
** Co said that acceleration continued into Q3 as it seeks to broaden its consumer base and grow its digital channels
** It projected SSS growth of 2.5%-3% for the year, including 3%-4% in the current qtr
** For Q2, total rev increased 10% yr/yr to $208 mln, in line with LSEG estimate; adj EBITDA grew by $7 mln from prior year to $114 mln, while analysts had modeled for $112.6 mln
** TD Cowen, which has a 'buy' rating on JMKE, said in a note it's encouraged by co's higher-than-expected Q3 and 2026 guidance, pointing out that current qtr wraps up shortly on Sept 27
** JMKE stock opened at $21 on July 30 after $1 bln IPO priced at $23
** 21 of 25 analysts rate the stock "strong buy" or "buy", 4 "hold"; median PT $28

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))