Duckwall-ALCO Stores Reports March Sales Results
April 08 2010 - 8:30AM
Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that sales
from continuing operations for the most recent fiscal five week
period ending April 4, 2010, increased 2.5% to $43.5 million
compared to $42.5 million in the prior-year month. Same-store sales
were up 2.1%.
Year-to-date sales increased 0.1% to $78.0 million compared to
the prior-year $77.9 million, and same-store sales decreased
0.3%.
Rich Wilson, President and Chief Executive Officer, commented:
"March same-store sales were positively impacted by the shift of
Easter from the April period to the March period. In addition,
we are encouraged by trends in our seasonal departments. Sales in
Outdoor Living, Horticulture, Lawn and Garden and warm weather
apparel have all responded positively. We are also
experiencing better than expected results on our new 'Everyday
Value' offering, a new Duckwall-ALCO initiative to better meet the
everyday needs of our customers."
The Company's continued focus on inventory position is providing
improved cash flow. This has resulted in a reduction of over
$16.0 million in the revolver balance as of period-end April 4,
2010 when compared to the same period-end of the prior fiscal
year. The revolver balance has been reduced by approximately
$5.6 million since fiscal year-end January 31, 2010.
Investor Conference Call
The Company will host an investor conference call at 10:00 a.m.
Central Daylight Time on April 16, 2010, to discuss operating
results for the fourth quarter and fiscal year ended January 31,
2010. The dial-in number for the conference call is
888-819-8018 (international/local participants dial 913-661-9178),
and the Confirmation Code is 8644557. Parties interested in
participating in the conference call should dial in approximately
five minutes prior to 10:00 a.m. Central Daylight Time. A
replay of the call will be available from two hours after
completion on April 16, 2010 through April 21, 2010 by dialing
888-203-1112 or for international/local callers by dialing
719-457-0820. The Replay Passcode is 8644557. A replay of
the call will also be available four hours after completion of the
call by visiting the Investors page on the Company's website,
www.ALCOstores.com.
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 254 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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