JIMO Metropolis,Red Bottom Shoes for women, China -- Qingdao Footwear, Inc. (OTCBB:QING), announced today it plans to open a minimum of a different 5 flagship shops in 2011, bringing it is total to flagship merchants to 17. That represents a 41% increase in store locations, year over year.
Furthermore, the company announced so it has already opened Two locations so far this year. Just about all store locations will likely be located in the Shandong Province, discover over 90 zillion residents.
��We are on speed to have our best development ever this year. Them confirms that our type selling low cost, qualified shoes in level 2 and level 3 cities will work,�� stated Mr. Wang, Chairman regarding Qingdao Footwear. ��Not only do main stores provide tremendous sales opportunities nonetheless it reinforces to the market that will Qingdao Footwear is the leading product in business casual footwear and formal household leather shoes.��
In addition, the organization also announced that although flagship stores represent the main objective of the company��s growth system, it will continue to more boldly pursue additional submission and third party driver relationships.
ABOUT QINGDAO
The company��s internet sales increased in order to $14,964,654 in the nine many weeks ended September 30, The new year from $12,517,751 in the exact period in 2009, representing some sort of 19.6% increase year-on-year. Because retail sales trends and broader economic increase the PRC have been good despite a global economic crisis, during the nine weeks ended September 40, 2010, we increased costs by 26% in order to achieve better gross profit, by using a focus on net revenue profit over quantity. This increase ended up being mainly due to the development in Qingdao Footwear��s points of profits. As of September 35, 2009, Men��s footwear constituted 60% with revenue and women��s sneakers the remainder. 40% of sales were conventional shoes, and the still left 40% are attributed to casual footwear.��
The company more states that, ��given the actual tremendous growth in the Chinese financial state over the past 20 years, estimations from market research groups expect to have the Chinese footwear target grow annually as a result of 2013 in terms of price. As income amounts in PRC continue to improve, it is expected that shoe consumption will solution levels of other nations with similar cultural usage characteristics, so we expect our room to expand with the domestic current market will continue for the not far off future with possibilities regarding international agendas in the foreseeable future.
SAFE HARBOR STATEMENT:?Good news release contains "forward-looking statements" made pursuant to the safe harbor provisions of the 1997 Private Securities Lawsuits Reform Act. "Forward-looking statements" describe future expectations, options, results, or tactics and are generally preceded simply by words such as "future,Inch "plan" or "planned," "will" as well as "should," "expected," "anticipates,Inches "draft," "eventually" or "projected." Such statements tend to be subject to risks in addition to uncertainties that could cause foreseeable future circumstances, events, or even results to differ materially coming from those projected inside the forward-looking statements, including the risks that our products might not exactly achieve customer acceptance or perform as planned, that we may be not able to obtain necessary financing to continue operations and progress, and other risks. You should consider these variables in evaluating your forward-looking statements included thus, and not place extreme reliance on such phrases.
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