DUCK Alco Stores, Inc. (MM)

Duckwall-Alco Stores, Inc. Reports April Sales ABILENE, Kansas, May 6 /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 four weeks ended May 2, 2004 (fiscal month of April) decreased approximately 2.6% to $33.7 million, compared with $34.5 million in the prior-year month. Same-store sales decreased approximately 3.3% for the month. ALCO stores, which generate approximately 93% of the Company's total revenues, recorded a 3.4% same-store sales decrease, while the Duckwall division recorded a decrease of 1.8%. Sales for the month were unfavorably impacted by unseasonably cold weather, which affected sales in such spring seasonal categories as lawn and garden, and apparel; a calendar shift in the Easter holiday, which occurred one week earlier this year; and the timing of payday, which affects when many consumers spend their money. Merchandise categories that were particularly strong during April included domestics, health care, electronics, pet supplies and budget movies. For the thirteen weeks ended May 2, 2004, total sales increased approximately 3.6% to $102.8 million, versus $99.3 million in the corresponding period of the prior year, while same-store sales decreased approximately 0.3%. The Company opened one new ALCO store during the month of April 2004. Approximately 7 new ALCO stores and 2 new Duckwall stores are expected to open during the current 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 ; or RJ Falkner & Company, Inc., Investor Relations Counsel, 800-377-9893, or , for Duckwall-ALCO Stores Web site: http://www.duckwall.com/

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