logo
Share SHARE
FONT-SIZE Plus   Neg

QKL Stores Posts Loss In Q4 - Quick Facts

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."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
Follow RTT