DAQING, China, December 27, 2011 /PRNewswire-Asia/ -- QKL Stores Inc. (the "Company") (Nasdaq: QKLS), a leading regional supermarket chain in Northeastern China, today announced the opening of one supermarket in Heilongjiang Province.
The Company's 54th store, situated in Daqing city, Heilongjiang Province, was opened on December 24th, 2011. The Company's store is located in Daqing city and occupies approximately 2,400 sq. meters of gross space with capacity to serve over 30,000 customers.
Including its new supermarket, the Company now operates 54 stores totaling 324,400 sq. meters of store space. This is comprised of 34 supermarkets, 16 hypermarkets and 4 department stores.
Mr. Zhuangyi Wang, Chairman and CEO, said, "We are delighted to open another store in our 'home' city of Daqing city, where the QKL brand is widely recognized. Our business has developed rapidly since we opened our first store in Daqing city in 1999 and we believe the value and convenience of our stores in Daqing has resulted in strong customer loyalty in the local community. Our new store will provide the opportunity to introduce our broad assortment of high quality products and unique shopping experience to a new group of customers in Daqing city, and we are pleased to open our final store to be opened in 2011 before the Chinese holiday season, our busiest time of year."
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 54 retail locations for an aggregate total of 324,400 sq. meters of store space. For more information, please access the Company's website at: 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
QKL Stores, Inc. In China: | ICR, Inc. In U.S.: | |
Mike Li, Investor Relations | Bill Zima | |
+86-459-460-7987 | +1-203-682-8233 | |
