{"url":"https://newsforagent.com/news/2026-10-31/jersey-mikes-ceo-undervalued-post-ipo","markdown_url":"https://newsforagent.com/news/2026-10-31/jersey-mikes-ceo-undervalued-post-ipo.md","title":"Jersey Mike's CEO Calls Shares Undervalued","headline":"Jersey Mike's CEO Charlie Morrison Says Shares Are Undervalued After 13% Post-IPO Drop","description":"Jersey Mike's CEO Charlie Morrison says the stock is undervalued after a 13% drop since its July IPO.","section":"Earnings & Results","published_at":"2026-10-31T18:46:34+00:00","modified_at":"2026-10-31T18:46:34+00:00","author":"News Desk","key_takeaways":["Jersey Mike's shares have fallen nearly 13% since debuting on the New York Stock Exchange at $21 per share in late July.","The chain posted 20 consecutive quarters of positive same-store sales growth, with third-quarter same-store sales up 3%.","Jersey Mike's announced a $100 million share buyback program and plans to test late-night hours to reach customers aged 18 to 34."],"companies":[{"name":"Jersey Mike's Subs","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00023ix/jersey-mike-s-subs","website":"https://www.jerseymikes.com"}],"source":{"publisher":"Yahoo","title":"Jersey Mike's CEO says the stock is 'undervalued' after post-IPO slump","url":"https://finance.yahoo.com/markets/stocks/article/jersey-mikes-ceo-says-the-stock-is-undervalued-after-post-ipo-slump-181146790.html"},"other_sources":[],"tags":["Earnings & Results","Jersey Mike's Subs"],"body_markdown":"Jersey Mike's CEO Charlie Morrison said the sandwich chain's shares are undervalued after falling nearly 13% since its New York Stock Exchange debut at $21 per share in late July. Morrison made the comments to [Yahoo](https://finance.yahoo.com/markets/stocks/article/jersey-mikes-ceo-says-the-stock-is-undervalued-after-post-ipo-slump-181146790.html) Finance. The stock fell as low as $16.09 in early October and closed the month at around $18 per share.\n\n## Morrison Defends Growth Record After IPO\n\n\"While the stock has been challenged, we think the shares are generally undervalued,\" Morrison said. He said the chain is aiming for \"long-term sustainable\" growth and has posted 20 consecutive quarters of positive same-store sales growth. In the third quarter, same-store sales rose 3%, driven by transaction growth and 9% unit growth, Jersey Mike's reported this past Wednesday. The company lowered its outlook for the year, and Morrison attributed softness in September and October to lower consumer sentiment amid the \"spike in interest rates and spikes in fuel prices.\" Morrison said the $100 million share buyback program announced this past week \"showcases the confidence we have in the business.\"\n\n## Catering Sales Climb 17% This Year\n\nCatering sales have increased roughly 17% so far this year and make up about 4% of sales, up from 3% historically. \"Sandwiches are very portable,\" Morrison said. \"They're used for lunch events all the time and we think Jersey Mike's should be a leader in the catering side of the business.\" TD Cowen analyst Andrew Charles wrote in a note to investors: \"We remain bullish on the long-term opportunity, as we believe Jersey Mike's product is particularly well suited to the occasion.\"\n\n## Late-Night Test Targets Younger Customers\n\nMorrison said younger customers, ages 18 to 34, make up a core part of the growing customer base, while the primary customer skews older. \"Our stores do close relatively early compared to most brands in the US, and as we approach this younger audience, we know that they tend to be more night owls than perhaps our typical customer base,\" he said. Most stores close around 9 p.m. or 10 p.m., with closing times varying by franchisee and location. Jersey Mike's plans to test the approach before making any changes to its hours.\n\n## How Jersey Mike's Built Its Scale\n\n[Jersey Mike's Subs](https://akta.pro/company-profiles/00023ix/jersey-mike-s-subs) is a fast-casual sub sandwich franchise founded in 1956, operating 3,200+ franchised locations across the U.S. and Canada with $4.2 billion in 2025 systemwide sales, according to [company records](https://akta.pro/company-data). The same records show company-reported revenue of $309.8 million for 2025, up 10.6% year-over-year. In April 2026, Jersey Mike's confidentially filed for an IPO targeting a valuation exceeding $12 billion, with plans to raise over $1 billion and a potential Q3 2026 listing.\n\n## Earlier Moves Before The Listing\n\nIn January 2026, Jersey Mike's signed a franchise agreement with JM Submarines UK LTD, led by founder Peter Cancro, to open 400 locations in the United Kingdom and Ireland, marking its first European market entry, according to akta.pro company records. In October 2026, [Restaurant Business](https://akta.pro/news-signals) reported that Jersey Mike's added a limited-time $7.99 mini cold sub and chips bundle to attract younger consumers, and that the chain reported $4.2 billion in 2025 sales, up 12.6% from 2024, and added 7.9% to its store count. That month, Jersey Mike's also launched the $7.99 Mini Bundle with a cold mini sub and chips at participating locations, Yahoo reported.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}