Duckwall-ALCO Stores Reports Positive November Sales Results
December 02 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 November 28, 2010, increased 8.5% to $43.5 million
compared to $40.1 million in the prior-year month. Same-store sales
increased 5.8%.
Sales year-to-date decreased 1.8% to $379.4 million compared to
prior-year sales of $386.2 million, and same-store sales decreased
3.2%.
On November 29, 2010, the Company announced it will close 43 of
its 44 Duckwall stores during the fourth quarter of the fiscal year
and convert the remaining one to an ALCO store. The following table
summarizes the fiscal 2011 sales comparisons for the ALCO and
Duckwall stores:
Same-store results: |
Nov. 28 Period |
Year to Date |
ALCO same-store sales |
6.3% |
(3.0)% |
Duckwall same-store sales |
(6.9)% |
(7.5)% |
Total same-store sales |
5.8% |
(3.2)% |
|
|
|
ALCO percent of total sales |
96.4% |
96.0% |
Duckwall percent of total sales |
3.6% |
4.0% |
Rich Wilson, President and Chief Executive Officer, commented,
"We are encouraged by the ALCO stores' 6.3% same-store sales
increase in November, including a robust improvement for
Thanksgiving week compared to 2009. Results were strongest in
apparel, consumables, electronics, sporting goods, hardware,
domestics and small appliances."
Mr. Wilson added, "November marks the second complete month of
our new ALCO store layouts and merchandise selections, plus the
integration of our partnership with Associated Wholesale Grocers to
offer the 'Best Choice' and 'Always Save' brands. Our core customer
is responding positively to ALCO's improved value proposition and
customer experience. Sales were positive in all four ALCO regions:
Southern, Northwest, Northern Plains and Central Plains."
Investor Conference Call
The Company will host an investor
conference call at 10:00 a.m. Central Time on December 10, 2010, to
discuss operating results for the third quarter ended October 31,
2010. The dial-in number for the
conference call is 888-601-3873 (international/local participants
dial 913-981-5537), and the Confirmation Code is
6535943. Parties interested in participating in the conference
call should dial in approximately five minutes prior to 10:00 a.m.
Central Time. A replay of the call will be available after
1:30 p.m. Central Time December 10, 2010 through December 15, 2010
by dialing 888-203-1112 or for international/local callers by
dialing 719-457-0820. The Replay Passcode is 6535943. 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 214 ALCO stores,
the Company is proud to have continually provided excellent
products at good value prices to its customers for 109 years. To
learn more about the company 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"). Forward-looking statements can be identified by the
inclusion of "will," "believe," "intend," "expect," "plan,"
"project" and similar future-looking terms. You should not rely
unduly on these forward-looking statements. These forward-looking
statements reflect management's current views and projections
regarding economic conditions, retail industry environments, and
Company performance. Forward-looking statements inherently involve
risks and uncertainties, and, accordingly, actual results may vary
materially. 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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