ABILENE, Kan., Dec. 2, 2010 (GLOBE NEWSWIRE) -- 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:
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 .
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