ABILENE, Kan., March 6, 2008 (PRIME NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that its sales from continuing operations for the four weeks ended March 2, 2008 (fiscal month of February) increased approximately 1.1% to $33.2 million compared to $32.8 million in the prior-year month. Same-store sales decreased 6.8%. Without fuel sales, same-store sales decreased 7.1%. This is the first month of the new fiscal year.
Despite the decrease in same-store sales, total Company sales increased because sales from 22 ALCO stores were excluded from the same-store computation because these stores were not open a complete fiscal year.
During the month of February the Company opened four ALCO stores. The Company closed five stores during February, four of which were Duckwall stores.
Donny Johnson, Interim President and Chief Executive Officer commented, "It was a tough sales month. We experienced significant declines in big ticket and entertainment items indicating consumers are slowing their discretionary spending. Company management is working diligently to address our sales and profitability challenges."
About Duckwall-ALCO Stores, Inc.
Duckwall-ALCO Stores, Inc. is a regional retailer that specializes in meeting the needs of smaller, underserved communities throughout the central United States. The Company offers an exceptional selection of fashionable merchandise, 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 261 stores across 22 states, Duckwall-ALCO Stores is proud to have continually provided excellent products at good value prices to its customers for 107 years. To learn more about Duckwall-ALCO Stores, Inc. visit www.ALCOstores.com.
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.