DUCK Alco Stores, Inc. (MM)

Duckwall-ALCO Stores, Inc. Reports December Sales ABILENE, Kan., Jan. 8 /PRNewswire-FirstCall/ -- Duckwall-ALCO Stores, Inc. , a leading regional retailer operating 264 full-line discount and hometown variety stores in 21 states in the central portion of the United States, today announced that sales for the five weeks ended January 4, 2004 (fiscal month of December) increased approximately 6.6% to $60.6 million, compared with $56.8 million in the prior-year month. Same-store sales increased approximately 0.6% for the month. ALCO stores, which generate approximately 93% of the Company's total revenues, recorded a 0.3% same-store sales increase, while the Duckwall division recorded an increase of 5.0%. Merchandise categories that were particularly strong during December included: consumables, appliances, electronics, video, health and beauty aids, housewares, men's apparel and footwear, infants and toddlers, toys and automotive. For the 48 weeks ended January 4, 2004, sales increased approximately 7.5% to $407.7 million, compared with $379.3 million in the corresponding period of the previous fiscal year. Same-store sales increased 1.1% when compared with the prior-year period. The Company did not open or close any ALCO or Duckwall stores during the month of December, 2003. The total number of ALCO openings this fiscal year remains at 8, compared with 5 ALCO openings in the previous fiscal year. Duckwall-ALCO Stores, Inc. is a leading regional retailer that operates 264 full-line discount and hometown variety stores in 21 states in the central portion of the United States under the names "ALCO" and "Duckwall", respectively. The Company's strategy is to target smaller markets not served by other regional or national full-line retail discount chains and provide the most convenient access to retail shopping within each market. Duckwall-ALCO Stores, Inc. is headquartered in Abilene, Kansas, and its common stock is listed on the Nasdaq National Market under the symbol "DUCK". 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 quarterly 10-Q filings and other public documents, copies of which are available from the Company on request. CONTACT: Dick Mansfield Vice President, Finance, Treasurer and Chief Financial Officer 785-263-3350 x286 e-mail: internet home page: http://www.duckwall.com/ or RJ Falkner & Company, Inc., Investor Relations Counsel at (800) 377-9893 or via e-mail at DATASOURCE: Duckwall-ALCO Stores, Inc. CONTACT: Dick Mansfield, Vice President, Finance, Treasurer and Chief Financial Officer of Duckwall-ALCO Stores, Inc., +1-785-263-3350 ext. 286, ; or RJ Falkner & Company, Inc., Investor Relations Counsel, +1-800-377-9893, , for Duckwall-ALCO Stores, Inc. Web site: http://www.duckwall.com/

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