QKL Stores Q1 net income almost triples

New York City QKL Stores' first-quarter net income nearly tripled, helped by higher revenue.

The Chinese grocer said Monday that it earned $11.9 million for the period ended March 31, compared with a profit of $4 million a year ago.

Revenue increased 23%to $82.3 million, from $67.1 million.

Same-store sales rose 9.2% to $68.7 million.