DAQING, China, Sept. 30 /PRNewswire-Asia/ -- QKL Stores Inc. (the "Company") (Nasdaq: QKLS), a leading regional supermarket chain in Northeastern China, today announced the opening of one department store and one supermarket in Jilin Province.
The Company's 38th and 39th stores, situated in Ji'an County, Jilin Province, were opened on September 29th, 2010. Ji'an County is the fourth largest port city in China and is an important goods distribution center in Northeast China's Changbai Mountain region. The two stores are located in the center of the business district in Ji'an county serving over 50,000 customers within the business community. The department store occupies the first six stories of the building and approximately 19,000 sq. meters of gross space. The supermarket located in the basement occupies approximately 4,600 sq. meters of gross space.
The openings of the two new stores bring the total number of the Company's store locations to 39 for an aggregate total of 188,000 sq. meters of store space. This is comprised of 30 supermarkets totaling 93,000 sq. meters, six hypermarkets totaling 43,000 sq. meters and three department stores totaling 43,000 sq. meters.
Mr. Zhuangyi Wang, Chairman and CEO, said, "We are excited about the new store openings and are confident our two new stores in Ji'an will prove to be an outstanding addition to our existing retail locations. We are on track with our expansion plan of completing 20 new store openings totaling 100,000 sq meters of new store space in 2010, which will provide a solid base for revenue and profit growth as we head into the 2011 fiscal year. We continue our focus on fresh and high quality products, further operational efficiency and store expansion in northeastern China and Inner Mongolia."
About QKL Stores Inc.:
Based in Daqing, China, QKL Stores, Inc. is a leading regional supermarket chain company operating in Northeast China. QKL Stores sells a broad selection of merchandise, including groceries, fresh food, and non-food items, through its retail supermarkets, hypermarkets and department stores; the company also has its own distribution centers that service its supermarkets. As of the date of this press release, the Company had 39 retail locations for an aggregate total of 188,000 sq. meters of store space. For more information, please access the Company's website at: http://www.qklstoresinc.com/.
Safe Harbor Statement
Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from those contemplated by any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.
Contact Information
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QKL Stores, Inc. In U.S.: |
ICR, Inc. In U.S.: |
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Crystal L. Chen, CFO |
Bill Zima |
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+1-909-895-6516 |
+1-203-682-8200 |
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In China: |
In China: |
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Mike Li, Investor Relations |
Yuening Jiang |
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+86-459-460-7987 |
+86-10-6599-7965 |
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