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
Even after two years of thoroughly searching across the Indian Ocean, using modern technologies and devices, there is no clue about the Malaysian airline that vanished on March 8, 2014. Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform.
comments powered by Disqus
Follow RTT