DAQING, China, March 21, 2011 /PRNewswire-Asia/ -- QKL Stores Inc. (the "Company") (Nasdaq: QKLS), a leading regional supermarket chain in Northeastern China, today announced the opening of a new supermarket store.
The Company's 49th store, situated in Shuangcheng City, Heilongjiang Province, was opened on March 20th, 2011. Shuangcheng City, with a population of approximately 820,000 residents, is well known for its food industry, represented by Nestle, Wahaha, and Huiyuan factories among others. QKL's supermarket utilizes approximately 3,300 sq. meters of gross space and is located in a new shopping mall center in the business district which can serve over 300,000 potential customers.
Mr. Zhuangyi Wang, Chairman and CEO, said, "We are excited to bring our concept of offering high quality, fresh and nutritious food at affordable prices to customers in Shuangcheng City. This is our first store in this city, where we plan on opening another two stores this year. This store opening brings the total number of Company store locations to 49 for an aggregate total of approximately 260,000 sq. meters of store space. This is comprised of 33 supermarkets, 13 hypermarkets and three department stores. We look forward to additional store openings this 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 49 retail locations for an aggregate total of 260,000 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.
For more information, please contact:
Mike Li, Investor Relations
SOURCE QKL Stores Inc.