ABILENE, Kan., April 8, 2010 (GLOBE NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that sales from continuing operations for the most recent fiscal five week period ending April 4, 2010, increased 2.5% to $43.5 million compared to $42.5 million in the prior-year month. Same-store sales were up 2.1%.
Year-to-date sales increased 0.1% to $78.0 million compared to the prior-year $77.9 million, and same-store sales decreased 0.3%.
Rich Wilson, President and Chief Executive Officer, commented: "March same-store sales were positively impacted by the shift of Easter from the April period to the March period. In addition, we are encouraged by trends in our seasonal departments. Sales in Outdoor Living, Horticulture, Lawn and Garden and warm weather apparel have all responded positively. We are also experiencing better than expected results on our new 'Everyday Value' offering, a new Duckwall-ALCO initiative to better meet the everyday needs of our customers."
The Company's continued focus on inventory position is providing improved cash flow. This has resulted in a reduction of over $16.0 million in the revolver balance as of period-end April 4, 2010 when compared to the same period-end of the prior fiscal year. The revolver balance has been reduced by approximately $5.6 million since fiscal year-end January 31, 2010.
Investor Conference Call
The Company will host an investor conference call at 10:00 a.m. Central Daylight Time on April 16, 2010, to discuss operating results for the fourth quarter and fiscal year ended January 31, 2010. The dial-in number for the conference call is 888-819-8018 (international/local participants dial 913-661-9178), and the Confirmation Code is 8644557. Parties interested in participating in the conference call should dial in approximately five minutes prior to 10:00 a.m. Central Daylight Time. A replay of the call will be available from two hours after completion on April 16, 2010 through April 21, 2010 by dialing 888-203-1112 or for international/local callers by dialing 719-457-0820. The Replay Passcode is 8644557. 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, http://www.alcostores.com/">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 254 stores, Duckwall-ALCO Stores is proud to have continually provided excellent products at good value prices to its customers for 109 years. To learn more about Duckwall-ALCO Stores, Inc. visit www.ALCOstores.com.
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"). 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.