Duckwall-ALCO Stores Reports July Sales Results
August 05 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 August 1, 2010, decreased 4.3% to $31.5 million
compared to $32.9 million in the prior-year month. Same-store
sales decreased 5.9%.
Sales for the second quarter of fiscal 2011 decreased 5.8% to
$116.0 million compared to the prior-year $123.1 million and
same-store sales decreased 7.2%.
Sales year-to-date decreased 4.1% to $227.2 million compared to
prior-year sales of $236.9 million, and same-store sales decreased
5.1%.
Rich Wilson, President and Chief Executive Officer, commented,
"The Company's 5.9% July same-store sales decrease was an
improvement versus sales trends over the last three months.
In addition, approximately 50% of July's decrease is attributable
to a shift in marketing. July advertising was reduced by one
advertising exposure; this marketing effort and its related expense
was realized in March, as it was designed to support an improved
Easter advertising campaign. Our marketing plans for the
balance of 2010 are consistent with last year."
Mr. Wilson added, "We continue to make progress in the areas of
store re-sets where we now have approximately 50% of the chain
complete. In addition, inventory levels across all
merchandise categories have now been corrected and our value
proposition in key 'trip driving' categories is more competitive.
For example, we are experiencing same-store sales growth in
Food, Paper Products, Chemicals, and Beauty Care."
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 257 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.
Executive Vice President
- Chief Financial Officer
Donny R. Johnson
785-263-3350 X164
djohnson@ALCOstores.com
Hagen and Partners
Debbie Hagen
913-652-6547
dhagen@hagenandpartners.com
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