Jersey Mike's Grew to $8 Billion Without Online Ads. Can It Learn Them Now?

Jersey Mike's CEO told MarketWatch the sandwich chain spent "almost zero dollars" on online ads before going public. Its July 2026 IPO — selling shares to outside investors for the first time — valued it near $8 billion. Now the chain is shifting strategy. The open question: can a brand that never paid for online ads learn quickly enough to earn that valuation?