Blimpie International expands to Sweden.NEW YORK--(BUSINESS WIRE)--June 15, 1995--BLIMPIE International (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 :BMPE BMPE Black Market Peso Exchange ) announces that it has entered into an agreement with JFM JFM Journal of Fluid Mechanics JFM Just for Me JFM Japan Finance Corporation for Municipal Enterprises JFM Joint Forces Memorandum JFM Joint Frequency Management JFM Just Fine Magic (slang, polite form; explains unexplainable processes) Inc. for expansion in Sweden. This venture anticipates the opening of 100 BLIMPIE Subs and Salads outlets in Sweden. It represents the first expansion by the company into the International marketplace. JFM, a 300-unit convenience store chain in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , operates several BLIMPIE franchises within its domestic stores. JFM also employs staff in Europe and acts as a retail/business consultant to companies overseas, serving a variety of high-profile clients including Shell Oil Inc. "The JFM agreement opens a new chapter in the BLIMPIE history book. The opportunity to expand our operations beyond US borders is enormous. We expect Sweden to become the catalyst for international development," says BLIMPIE President and 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. , Anthony Conza. "We believe this venture will be a resounding re·sound v. re·sound·ed, re·sound·ing, re·sounds v.intr. 1. To be filled with sound; reverberate: The schoolyard resounded with the laughter of children. 2. success because it targets an untapped niche in the European market ... bringing BLIMPIE to Sweden, and eventually to the rest of Europe, will satisfy a demand for convenient, quality sandwiches at a reasonable price," said Joe Arancio, Vice President of Business Development at JFM. BLIMPIE International Inc. is the franchisor of the nation's second leading submarine sandwich restaurant chain, with approximately 1,000 outlets operating in 42 states. Since its founding in 1964, BLIMPIE has sold hundreds of millions of sandwiches. For the nine months ended March 31, 1995, BLIMPIE International reported a 68% jump in revenues to $18,620,864 and a 66% increase in earnings to $1,717,694 as compared with the nine month period ended March 31, 1994. CONTACT: Kirshenbaum & Bond Annabelle Freeman, Janina Lieberson, 212/337-4542 |
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