Duckwall-ALCO Stores Reports October Sales Results
November 04 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 October 31, 2010, decreased 1.7% to $34.4 million
compared to $34.9 million in the prior-year month. Same-store sales
decreased 3.7%.
Sales for the third quarter of fiscal 2011 decreased 0.4% to
$108.8 million compared to the prior-year $109.3 million, and
same-store sales decreased 2.3%.
Sales year-to-date decreased 2.9% to $335.8 million compared to
prior-year sales of $346.0 million, and same-store sales decreased
4.2%.
Rich Wilson, President and Chief Executive Officer, commented,
"Our sales for the month of October were impacted by significantly
warmer temperatures, especially in the Company's central region.
Same-store sales were positive in our Texas, Utah and Wyoming
regions. Businesses most impacted were men's and women's apparel,
home textiles, and sporting goods."
Mr. Wilson added, "On a positive note, we completed our
company-wide store re-set initiative and launched new grocery
products under the "Best Choice" and "Always Save" labels as part
of our new partnership with Associated Wholesale Grocers
(AWG). Initial results have been encouraging, with the Company
achieving strong same-store sales in the food and consumable
departments for the month. The partnership with AWG not only
provides ALCO's consumer with high quality products at significant
savings but will improve the Company's efficiency by increasing
inventory turnover and lowering distribution center SG&A."
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.
Wayne S. Peterson, Senior Vice President -
Chief Financial Officer
785-263-3350 X164
wpeterson@ALCOstores.com
Hagen and Partners
Debbie Hagen
913-652-6547
dhagen@hagenandpartners.com
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