Subway shut 359 U.S. stores in '16

Subway Restaurants closed hundreds of domestic locations last year, marking the biggest retrenchment in the history of a chain that spent decades saturating America with restaurants.

The company lost 359 U.S. locations in 2016, the first time that Subway had a net reduction. The store count dropped 1.3 percent, from 27,103 in 2015 to 26,744, but Subway remains the nation's most ubiquitous eatery. McDonald's Corp. ranks No. 1 by sales.

The closely held company is coping with a sales slowdown in the United States, made worse by the emergence of newer fast-casual rivals and the industry's heavy reliance on discounts and promotions. Subway also has lost some of its luster as a healthier-food option. It has been working to restore its status by eliminating antibiotics from its chicken and switching to cage-free eggs.

In another bid to revive growth, Subway is adding delivery services -- a strategy that has also been embraced by McDonald's. And it even unveiled a new, more contemporary logo. But so far, the changes haven't helped much: Sales fell 1.7 percent last year to about $11.3 billion.

SundayMonday Business on 04/23/2017

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