ABILENE, Kan., Nov. 4, 2010 (GLOBE NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that sales from continuing operations for the most recent fiscal four-week period ending October 31, 2010, decreased 1.7% to $34.4 million compared to $34.9 million in the prior-year month. Same-store sales decreased 3.7%.
Sales for the third quarter of fiscal 2011 decreased 0.4% to $108.8 million compared to the prior-year $109.3 million, and same-store sales decreased 2.3%.
Sales year-to-date decreased 2.9% to $335.8 million compared to prior-year sales of $346.0 million, and same-store sales decreased 4.2%.
Rich Wilson, President and Chief Executive Officer, commented, "Our sales for the month of October were impacted by significantly warmer temperatures, especially in the Company's central region. Same-store sales were positive in our Texas, Utah and Wyoming regions. Businesses most impacted were men's and women's apparel, home textiles, and sporting goods."
Mr. Wilson added, "On a positive note, we completed our company-wide store re-set initiative and launched new grocery products under the "Best Choice" and "Always Save" labels as part of our new partnership with Associated Wholesale Grocers (AWG). Initial results have been encouraging, with the Company achieving strong same-store sales in the food and consumable departments for the month. The partnership with AWG not only provides ALCO's consumer with high quality products at significant savings but will improve the Company's efficiency by increasing inventory turnover and lowering distribution center SG&A."
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 109 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.