0008 GMT - Shaw & Partners is upbeat about Retail Food Group's plans to open its first Firehouse restaurant in FY 2026 and build its footprint from there. Retail Food wants 15 stores within three years. It will initially own each Firehouse outlet and invest US$12 million to start growing the business. The longer-term goal is 165 stores over 10 years, some franchised. "Firehouse has a unique selling proposition-- meaty subs, proprietary steaming process, Texas flavor," analyst Larry Gandler says. "Subway, with over 1,200 stores, is believed to have over 50% of the market so the time may be right for a major challenger." (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

February 03, 2026 19:08 ET (00:08 GMT)

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