Duckwall-ALCO Stores Reports May Sales Results
June 03 2010 - 8:30AM
Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that sales
from continuing operations for the most recent fiscal four-week
period ending May 30, 2010, decreased 7.5% to $39.2 million
compared to $42.3 million in the prior-year month. Same-store sales
decreased 9.0%.
Sales year-to-date decreased 3.7% to $150.4 million compared to
prior year sales of $156.1 million, and same-store sales decreased
4.4%.
Rich Wilson, President and Chief Executive Officer, commented:
"Our May sales performance was disappointing. While sales for the
Memorial Day holiday were positive, they did not offset sales
decreases experienced the first two weeks of the month, which were
partly attributable to unseasonably cooler temperatures and heavy
rain throughout our largest markets (Kansas, Oklahoma and
Texas)."
Mr. Wilson added, "We are encouraged that our strategy to drive
customer traffic with expanded assortments in food and consumables
is working, particularly in Food, which is up 8.9%, and Health
Care, which is up 3.2%. Business areas that did not perform to our
expectation included Apparel, Spring/Summer Seasonal, and Sporting
Goods, where we have lacked the inventory investment needed to
achieve top line results. The Company has taken corrective actions
to address these shortfalls for the remainder of the second
quarter."
Investor Conference Call
The Company will host an investor
conference call at 10:00 a.m. Central Daylight Time on June 11,
2010, to discuss operating results for the first quarter ended May
2, 2010. The dial-in number for the conference
call is 866-316-1367 (international/local participants dial
913-312-1268), and the Confirmation Code is 7674121. 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 June 11, 2010 through June 16, 2010 by dialing
888-203-1112 or for international/local callers by dialing
719-457-0820. The Replay Passcode is 7674121. 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 256 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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