Duckwall-ALCO Stores Announces Executive Departure
July 15 2010 - 4:30PM
Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK), today announced that
Donny Johnson, Executive Vice President and Chief Financial
Officer, has resigned effective August 13.
In addition to his role as CFO, Johnson - who joined the Company
in August 2007 - served as interim Chief Executive Officer for
several months in 2008. He has resigned to accept a position with a
privately held company near Tahlequah, Oklahoma.
Rich Wilson, Duckwall-ALCO's President and Chief Executive
Officer, commented, "Donny has made an exceptional contribution to
the Company over the past three years. Our balance sheet is strong
and our financial systems and processes are sound. We are sorry to
see Donny go, but we recognize he and his family are eager to
return to their home state of Oklahoma and to be closer to their
family. We certainly wish him well."
The Company is conducting a national search for a CFO with the
financial and management skills to contribute to the senior
management team, and hopes to announce Johnson's replacement
soon.
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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