ABILENE, Kan., July 10, 2008 (PRIME NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that its sales from continuing operations for the five weeks ended July 6, 2008 (fiscal month of June) increased approximately 12.8% to $51.3 million compared to $45.5 million in the prior-year month. Same-store sales for the same period increased 0.8% with and without fuel.
Sales year-to-date increased 4.5% to $200.1 million compared to $191.4 million in the prior year, and same-store sales decreased 4.9% with fuel and decreased 5.1% without.
Larry Zigerelli, President and Chief Executive Officer commented, "We are pleased with the same-store sales improvement in June, primarily attributable to a better store in-stock position. We will continue to focus on operational excellence and develop new and stronger merchandising and marketing strategies going forward."
Store Operations Update
During the month of June, the Company opened two ALCO stores bringing the number of new stores opened fiscal year-to-date to twelve. Six additional stores will be opened as planned for the remainder of fiscal year 2009, four of which will be replacement stores for either existing Duckwall stores or smaller ALCO stores.
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 257 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.