ABILENE, Kan., Nov. 5, 2009 (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 1, 2009, decreased 0.9% to $35.0 million compared to $35.3 million in the prior-year month. Same-store sales were down 0.9%.
Sales for the fiscal third quarter decreased 1.7% to $109.6 million compared to $111.5 million in the prior year quarter, and same-store sales decreased 1.7%. Year-to-date sales increased 2.2% to $347.0 million compared to the prior-year $339.7 million, and same-store sales increased 0.2%.
The recent same-store sales performance represents an improvement in trend. June and July sales were down 4.3% and 4.2%, respectively. August and September sales, combined to account for the Labor Day fiscal period shift, were down 2.1%. October's 0.9% decrease continues the sequential improvement.
Larry Zigerelli, President and Chief Executive Officer, commented: "October same-store sales reflect continued progress over the past several months. Halloween same-store sales were strong, up 2.5% over a year ago, with clean inventory coming out of the season. This is encouraging, combined with continued gross margin results ahead of plan, as we enter the critical holiday selling period. All elements of our strengthened merchandising and marketing program are in place to take full advantage of the season. Our strategic transformation plan that began last fall remains on or ahead of schedule. We anticipate continued near-term progress."
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 108 years. To learn more about Duckwall-ALCO Stores, Inc. visit www.ALCOstores.com.
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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.