NEW YORK, July 22, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on QKL Stores
Inc. (NASDAQ: QKLS). Select highlights from the internally released
reports are being made available to the general public (included
below), with access to the entirety of the research available to
new members.
Today, membership is open to readers on a complementary basis at
the following URL: http://www.aciassociation.com/?c=QKLS
Highlights from our QKLS Report include:
- Revenue & Sales Figures - According to a
Yahoo Finance news update dated May 15,
2015, QKL Stores Inc. released its financial results for the
first quarter ended March 31, 2015.
Posting decent quarterly growth, the Company reported its revenues
as $92.6 million, marking an increase
of 7.7% YoY. The Company's same store (42 stores) sales generated
c. $79.6 million in sales as compared
with $80.3 million in net sales in Q1
2014.
- Profitability Margins - Gross profit rose by 4.1%
YoY to $15.3 million, or 16.5% of net
sales, from $14.7 million, or 17.1%
of net sales, reported in Q1 2014. The increase in gross profit was
largely attributable to an increase in net sales of $6.6 million in Q1 2015 compared to Q1 2014. Net
loss came in at $4.6 million or
$3.01 per diluted share, as compared
to $3.1 million or $2.01 per diluted share in the corresponding
quarter prior year. Further, the number of shares used in the
computation of diluted EPS was 1,522,326 for the first three months
of 2015 and 2014.
- A Round Up on Expenses - Selling expenses were
$16.3 million or 17.6% of net sales
in Q1 2015, versus $13.3 million or
15.4% of net sales in Q1 2014. Labor costs increased by 15.4% YoY
to $6.0 million in Q1 2015 from
$5.2 million reported in Q1 2014.
Promotion expenses increased by 50.0% YoY to $1.5 million in Q1 2015 from $1.0 million reported in Q1 2014. The
Company's general and administrative expenses decreased by 21.9%
YoY to $2.5 million in Q1 2015 from
$3.2 million reported in Q1
2014. This decrease was mainly due to the control of
administrative expenses.
- CEO's Rationale - Commenting upon the
results, Mr. Zhuangyi Wang, Chairman and CEO stated that the
Company finished the first quarter closing down two stores and
operating a total of 47 stores, comprising of 26 supermarkets, 17
hypermarkets and 4 department stores. He further stated that the
Company would be opening up two new stores in H2 2015.
To find out how this influences our rating on QKL Stores Inc.,
read the full report in its entirety here:
http://www.aciassociation.com/?c=QKLS
--
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