Duckwall-ALCO Stores Appoints Richard E. Wilson as President and CEO
February 22 2010 - 1:15AM
Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK), today announced its Board
of Directors has named Richard E. Wilson as President and Chief
Executive Officer effective February 22, 2010. Lawrence J.
Zigerelli, the President and CEO since July 2008, has resigned.
Wilson has been Principal of Corporate Alliance Group, a
management consulting company specializing in marketing,
product development, planning, strategy and brand management for
the retail and wholesale trade, since 2007.
Previously, Wilson was Senior Vice President, General
Merchandise, for BJ's Wholesale Club, where he was responsible for
a $2 billion business including merchandising, marketing,
private brand development, global sourcing and club
presentation. Wilson also served as an executive with May
Department Stores, the Filene's division of May, and Macy's.
Royce Winsten, Chairman of the Board, commented: "We want to
thank Larry Zigerelli for his efforts and accomplishments on behalf
of Duckwall-ALCO shareholders. We wish him well in his future
endeavors."
"We are very pleased that Rich Wilson is joining us as CEO of
Duckwall-ALCO Stores. Rich is a true merchant. His leadership
ability together with his expertise in merchandising and retail
management is the right skill set to move the Company forward. As a
consultant to the Board, Rich has recently completed an analysis of
the Company's merchandising and marketing strategy. As a result, he
will hit the ground running and be able to focus the Company's
efforts on improving future performance. We look forward to Rich
making a positive impact on our product offerings, service and
sales growth in the periods ahead."
About Duckwall-ALCO Stores, Inc.
Duckwall-ALCO Stores, Inc. is a regional broad line retailer
that specializes in meeting the needs of smaller, underserved
communities across 23 states, primarily in the central United
States. The Company offers an exceptional selection of quality
products and recognized brand names at reasonable prices. Its
specialty is delivering those products with the friendly, personal
service its customers have come to expect. With 258 stores,
Duckwall-ALCO Stores is proud to have continually provided
excellent products at good value prices to its customers for 109
years. To learn more about Duckwall-ALCO Stores, Inc. visit
www.ALCOstores.com.
The Duckwall-ALCO Stores, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5865
Forward-looking statements
This press release contains forward-looking statements, as
referenced in the Private Securities Litigation Reform Act of 1995
("the Act"). Any forward-looking statements are made by the Company
in good faith, pursuant to the safe-harbor provisions of the Act.
These forward-looking statements reflect management's current views
and projections regarding economic conditions, retail industry
environments, and Company performance. Factors which could
significantly change results include but are not limited to: sales
performance, expense levels, competitive activity, interest rates,
changes in the Company's financial condition, and factors affecting
the retail category in general. Additional information regarding
these and other factors may be included in the Company's 10-Q
filings and other public documents, copies of which are available
from the Company on request and are available from the United
States Securities and Exchange Commission.
CONTACT: Duckwall-ALCO Stores, Inc.
Donny R. Johnson, Executive Vice President - Chief Financial
Officer
785-263-3350 X164
djohnson@ALCOstores.com
Hagen and Partners
Debbie Hagen
913-652-6547
dhagen@hagenandpartners.com
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