ABILENE, Kan., July 5, 2012 (GLOBE NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that sales from continuing operations, excluding fuel, decreased 2.9% to $46.8 million for the fiscal five-week period ended July 1, 2012, compared to $48.1 million during the same period of the prior year. On a same-store basis, excluding fuel, sales decreased 5.9% from a year earlier.
On a year-to-date basis, sales from continuing operations, excluding fuel, increased 2.4% to $202.4 million for the fiscal 22-week period ended July 1, 2012, compared to $197.7 million during the same period of the prior year. On a same-store basis, excluding fuel, sales decreased 0.2% from a year earlier.
Rich Wilson, President and Chief Executive Officer, commented, "Although we had expected June to be a challenging month due to the fiscal calendar shift, sales were disappointing. Unlike the prior year, customer shopping patterns shifted out of the June fiscal period due to the timing of the first few days of July and the Fourth of July shopping weekend. In addition, severe thunderstorms over the weekend negatively impacted holiday sales. Finally, there appears to be on-going concern in consumer confidence regarding macro-economic conditions. While we work continuously to provide great products at great values, same-store sales were most negatively impacted in non-essential categories."
About Duckwall-ALCO Stores, Inc.
Duckwall-ALCO Stores, Inc. is a broad-line retailer, primarily located in small underserved communities across 23 states. The Company has 216 ALCO stores that offer both name brand and private label products of exceptional quality at reasonable prices. We are proud to have continually provided friendly, personal service to our customers for the past 111 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 the 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.