Growing Market Share and Store Count Expected
EDINA, Minn., Apr 30, 2011 – Rapid Refill, a leading provider of sustainable print solutions, today announced results for the fiscal quarter ending March 31, 2011.
First quarter 2011 same store average sales increased by nearly 4% over the same period ending March 31, 2010 and 6% over the prior quarter ending December 31, 2010. Newer stores that have received the most current franchisee training and have largely adopted all operating programs experienced even more significant growth rates. Stores opening after 2008 posted an average comparable store growth rate of 7% in the first quarter of 2011 versus the fourth quarter of 2010 and a 16% gain compared to the first quarter of 2010.
Jason Block, Rapid Refill’s President and Chief Operating Officer, commented “We continue to see a trend in consumers buying locally to support their neighbourhood business owners, so we see Rapid Refill’s market share growing in 2011, largely being taken from big box and internet retail competitors that can’t match our value proposition of savings, sustainability and service. We expect to add more stores to our system this year and to see continued gains amongst our existing franchised locations.”
Comparing the Company’s results to publically disclosed performance data from large office supply chains, Mr. Block added, “The success of the first quarter was terrific and we expect the trend to continue. Customer demand for Rapid Refill’s products and services is strengthening as the economy rebounds and business activity increases, and we are really starting to see the results from the suite of marketing programs and rebranding efforts we’ve put in place over the last year. When you look at our competitors in the industry posting same store sales declines, I think we have a winning formula.“ For more information or to find a Rapid Refill store near you, visit www.rapidrefill.com.
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About Rapid Refill: Rapid Refill, a Minnesota-based company offering franchises since 2004, specializes in recycling and retail sales of Rapid Refill® brand inkjet cartridges, laser toner cartridges and other print supplies for all popular printer and copier brands like Hewlett-Packard (HP), Canon, Epson, Brother, Lexmark, Dell, Samsung, Sharp, Xerox, Oki and more. Noted for savings, service and sustainability, it serves both walk-in retail consumers and businesses with delivery and other on-site services. Rapid Refill retail stores have a huge selection in stock, every day, so customers can buy off the shelf – no more waiting for cartridges to be refilled! Using Rapid Refill brand cartridges saves customers money and keeps cartridges out of landfills – two significant advantages over buying new. Rapid Refill plans to be the number one source for print cartridges and services in every community. To learn more about Rapid Refill visit www.RapidRefill.com. For franchise opportunities visit www.RapidRefillFranchise.com.
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