BLIMPIE International, Inc. announces global expansion plans.ATLANTA--(BUSINESS WIRE)--Feb. 21, 1996--BLIMPIE International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NMS See NetWare Management System. : BMPE BMPE Black Market Peso Exchange ), the world's second leading submarine submarine, naval craft capable of operating for an extended period of time underwater. Submarines are almost always warships, although a few are used for scientific or business purposes (see also submersible). sandwich chain, today announced signed contracts for major international expansion plans into Europe and the Middle East. After a successful debut in Sweden, BLIMPIE subs will now be sold in the UK, Spain and Egypt, where plans are to open 270, 88 and 68 units, respectively, over the next ten years with master franchisees in those countries. Development will consist of traditional and new-concept ventures, whereby BLIMPIE full-service counters will be equipped to sell freshly prepared sandwiches and salads in already existing retail establishments. "As expected, Sweden has acted as the catalyst for further international development," says CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and founder Anthony Conza. "Since our first store opening in September 1995, we have gained market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" with three full-service outlets and additional satellite outlets where freshly prepared sandwiches are made available." By July 1996, six full service stores and 40 satellite locations are projected. International co-branding has become a priority for BLIMPIE International, Inc. based on their national success rate with their 500 existing alternative sites. BLIMPIE International, Inc. now has over 1,300 outlets worldwide. "Sales in our initial Swedish unit are well above projections," says Dennis Fuller, BLIMPIE International, Inc. SVP SVP S'il Vous Plaît (French: Please) SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul Global Development. "The success we've experienced in Sweden has prompted an increased concentration on developing outlets in other countries." Site selection and/or site construction is currently underway in all of these countries -- outlets may open as soon as mid-March in Spain. Founded in 1964, BLIMPIE International, Inc. was ranked in 1995 as the nation's fastest growing quick-service restaurant chain by Nation's Restaurant News, the industry's leading trade publication. For the second quarter ended Dec. 31, 1995, BLIMPIE International's revenues rose 50% to $8,783,069 and net income increased 100% to $1,015,846 as compared to the quarter ended Dec. 31, 1994. Earnings per share rose to $.11, compared to $.06 per share for the quarter ended Dec. 31, 1994. CONTACT: BLIMPIE International, Inc. Dennis Fuller, 800/447-6256 ext. 18 -or- Kirshenbaum & Bond Janina Lieberson, 212/337-4542 |
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