QKL Stores Opens New Supermarkets In Northern China

Chinese supermarket chain QKL Stores announced the opening of two new supermarkets in Heilongjiang and Inner Mongolia, respectively.

Wang Zhuangyi, chairman and CEO of QKL Stores, stated, "With the addition of these two new supermarkets, we currently operate 30 stores comprised of 26 supermarkets, 2 department stores, and one convenience store, for nearly 1,363,593 square feet of space. The two new locations warranted larger stores, and we are pleased to offer an expanded non-food product selection to customers in these regions. We continue to focus on growing our margin opportunity while increasing sales. We remain confident in our expansion strategy and look forward to furthering our success in 2009."

The company's 29th new store is situated in Boli City, Heilongjiang, with a population of approximately 120,000 people. QKL Stores' supermarket opened its doors on December 22, 2008, and is located in the underground portion of the Dongbeiya Shopping Mall. The company occupies more than 108,000 square feet of leased space, with nearly 42,000 square feet attributed to the supermarket and the remaining 16,892 square feet attributed to the 0ur teanant area.

The 30th new store is located in Hailar, the capital city of Hulunbuir in Inner Mongolia, and has a population of approximately 300,000 people. The Hailar store opened its doors on December 28, 2008. This new supermarket is located in the Huahui shopping center in the commercial hub of the city. The supermarket is approximately 49,500 square feet and the tenant area is roughly 32,285 square feet.