ABILENE, Kan., Feb. 3, 2011 (GLOBE NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that sales from continuing operations for the most recent fiscal four-week period ending January 30, 2011, increased 0.2% to $28.10 million compared to $28.05 million in the prior-year month. Same-store sales decreased 1.9%.
Sales for the fourth quarter of fiscal 2011 increased 4.5% to $135.1 million, compared to the prior-year $129.3 million. Same-store sales increased 1.8%.
Sales year-to-date decreased 0.7% to $457.7 million, compared to prior-year sales of $461.0 million. Same-store sales decreased 2.4%.
Rich Wilson, President and Chief Executive Officer, commented, "January sales for ALCO Stores were impacted by severe winter storms in our northern and central plains areas and by decreases in electronics, toys, and decor businesses. We achieved increased sales in the month for our food and consumables business and our apparel departments."
"Our fourth-quarter 1.8% sales increase represents the first positive comparable-sales quarter in the past seven quarters and reflects the success of our strategy to re-position ALCO over the past 10 months to drive additional store traffic, improve the Company's value proposition, and improve store execution. Fourth-quarter sales were comp-positive in food and consumables, apparel and hardlines businesses."
Comparable Sales by Quarter of Fiscal 2011:
| 1st | (2.7%) |
| 2nd | (7.2%) |
| 3rd | (2.3%) |
| 4th | +1.8% |
"We are encouraged by our fourth-quarter sales and look forward to building on the recent trend of the business to deliver improved sales, earnings and shareholder value as we begin fiscal 2012," Mr. Wilson added.
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 214 ALCO stores, the Company is proud to have continually provided excellent products at good value prices to its customers for 110 years. To learn more about the company 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"). 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 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.