Store Hours Renys Map Columbia Carhartt Woolrich Sale Items! Just In F.A.Q. Jobs at Renys In the News		Flip side Maine Businessses from discount retailers to motorcycle shops find the downturn is kicking their companies into high gear By: Rebecca Goldfine Mainebiz Staff Writer / Septemeber 22, 2008 John Reny is building a sizable addition to the discount department store in Belfast he owns with his brother Robert, despite widespread warning signs the economy is distressed. "We just decided to bite the bullet and expand our store," John Reny says. Construction on the 14,000-square-foot addition originally was slated to start last spring, but the Renys, whose 14 stores from Damariscotta to Bridgton generated about $56 million in revenue last year, held off for a few months as they watched stock markets dip, national foreclosure rates climb and gas prices soar. "Finally a couple months ago, we said, 'Either you're in or out,'" Reny recalls. "It's better to do something than nothing." But don't let Reny fool you - this down market expansion isn't a gamble as much as sound business. While plenty of Maine companies, from boat builders to building contractors to oil dealers, lately struggle to maintain sales and control spiraling costs, the 59-year-old chain store known for its budget-friendly, practical goods these days is still growing, albeit slower than usual. Discount retailers, especially smaller ones like Renys and Marden's Surplus and Salvage, based in Lewiston, can snag deals in production over-runs, close-outs, bankruptcies and liquidations and pass those savings along to consumers hungry for a bargain. Over the past year, the Renys posted two percent growth in sales, which is down from the three to five percent growth the company had been achieving over the previous few years. But that's still decent, according to Reny. "I think talking to people in business across the country, that sounds pretty good," Reny says. "We've always done very well in hard economic times because we do have good low prices and we like to sell quality products." This time around, Reny's seeing more customers eschew knick-knacks for essential items like clothes, boots and shovels. While many businesses are slowing down, growth is indeed happening in Maine sectors like higher education, alternative transportation and discount retail. These lucky few share the security of being able to observe the economic carnage at a safe distance. Excerpt From: Mainebiz, September 2008 Web Specials  ||  Feature Brands  ||  Contact Renys  ||  Our Locations  ||  Job Opportunities Gift Cards  ||  History  ||  In the News  ||  Just In  ||  Email Signup  ||  Site Map  ||  Home Page R.H. Reny, Inc. 731 Route 1 Newcastle, Maine 04553 Phone: (207)563-3177 Fax: (207)563-5681 E-Mail: feedback@renys.com