QKL Stores (QKLS) Posts Wider Q4 Loss

QKL Stores (NASDAQ: QKLS) reported Q4 net loss of $18.3 million, from a loss of $14.7 million reported in the same period last year. Revenue in the fourth quarter of 2015 decreased by 17.7% to $62.4 million from $75.8 million in the fourth quarter of 2014.

Comparable stores are stores that were opened for at least one year before the beginning of the comparison period, or by October 1, 2014. Those 40 stores generated approximately $55.0 million in sales in the fourth quarter of 2015, representing a decrease of $10.1 million, or 15.6% compared with $65.1 million in sales in fiscal 2014. New store sales increased, reflecting the opening of 5 new stores since October 1, 2014. These stores generated approximately $7.4 million in sales in the fiscal 2015.

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