QKL Stores Inc. (QKLS) reported fourth-quarter net loss of about $18.3 million or $0.60 per share versus profit of $2.4 million or $0.06 per share last year.
Adjusted net income for the quarter was $0.9 million, or $0.03 per share, lower than $2.4 million, or $0.06 per share, in the same quarter a year ago.
Revenue grew 20.9% to $103.7 million from $85.8 million in the previous year.
Revenue performance reflected the growth of 35 comparable stores, as well as sales from the opening of 19 new stores since October 1, 2010. Same-store sales were approximately $83.5 million, an increase of 9.2% from $76.5 million last year.
Looking ahead, Zhuangyi Wang, Chairman and CEO, said, "...As we advance into 2012, we plan to slow down the pace of our new store openings. Currently, we expect to open five new supermarket or hypermarket stores this year. We maintain confidence in our strategy of strengthening our store presence in Tier 4 & 5 cities in northeastern China as well as in our core region of operation around Daqing where the majority of our older stores are based."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.