ABILENE, Kan., Aug. 2, 2012 (GLOBE NEWSWIRE) -- ALCO Stores, Inc. (Nasdaq:ALCS) today announced that sales from continuing operations, excluding fuel, increased 3.3% to $33.5 million for the fiscal four-week period ended July 29, 2012, compared to $32.5 million during the same period of the prior year. On a same-store basis, excluding fuel, sales increased 0.1% from a year earlier.
For the second quarter ended July 29, 2012, sales from continuing operations, excluding fuel, increased 1.1% to $120.3 million, compared to $119.0 million during the same period of the prior year. On a same-store basis, excluding fuel, sales decreased 1.8% from a year earlier.
On a year-to-date basis, sales from continuing operations, excluding fuel, increased 2.5% to $235.9 million for the fiscal 26-week period ended July 29, 2012, compared to $230.2 million during the same period of the prior year. On a same-store basis, excluding fuel, sales decreased 0.1% from a year earlier.
Rich Wilson, President and Chief Executive Officer, commented, "Our same-store sales decrease for the second quarter was disappointing, but in a broader context it is important to note that our same-store sales performance for second quarter last year was an increase of 5.2%."
Mr. Wilson added, "Macroeconomic headwinds, coupled with severe drought conditions - the worst in 50 years in much of the Company's trading area - slowed consumer spending during the second quarter. We are, however, cautiously optimistic about the balance of the year. New merchandise for programs in apparel, domestics, sporting goods and electronics are showing early promise. In addition, we have adjusted our marketing plans to assertively support ALCO's value proposition and showcase new exciting merchandise during the second half of the year."
Mr. Wilson concluded, "We remain positive about our plans for the Fall season as we continue to focus on delivering improved earnings and shareholder returns."
Investor Conference Call
The Company will host an investor conference call at 10:00 a.m. Central Time on Friday, September 7, 2012, to discuss operating results for the second quarter of fiscal year ended July 29, 2012. The dial-in number for the conference call is 888-802-2269 (international/local participants dial 913-312-1444), and the Conference Code is 2645599. 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 September 7, 2012 through September 12, 2012, by dialing 888-203-1112 (international/local participants dial 719-457-0820), and the Replay Code is 2645599. 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 ALCO Stores, Inc.
ALCO Stores, Inc. is a broad-line retailer, primarily located in small underserved communities across 23 states. The Company has 215 ALCO stores that offer both name brand and private label products of exceptional quality at reasonable prices. We are proud to have continually provided friendly, personal service to our customers for the past 111 years. To learn more about the Company, visit www.ALCOstores.com.
The 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 the 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.