Duckwall-ALCO Stores reports sales from continuing operations grew 1.7% to US$66.8M in five weeks ended Jan. 1 as same-store sales excluding fuel dipped 0.3%; CEO says warm weather affected sales of seasonal items
January 5, 2012
– Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK - News) today announced that sales from continuing operations increased 1.7% to $66.8 million for the fiscal five-week period ended January 1, 2012, compared to $65.6 million during the same period of the prior year. On a same-store basis, excluding fuel, sales decreased 0.3% from a year earlier.
For the 11-month period (48 weeks) ended January 1, 2012, sales from continuing operations increased 4.6% to $455.3 million, compared to $435.2 million during the same period of the prior year. On a same-store basis, excluding fuel, sales for the 48 weeks increased 3.2% versus a year earlier.
Rich Wilson, President and Chief Executive Officer, commented, "The continued unseasonably warm temperatures negatively impacted seasonal businesses in several of our markets. The warm weather had a particularly negative impact on cold weather apparel, but also negatively impacted seasonal products in domestics, automotive and hardware. Sales performance was better in our Northern Plains and Southern regions, and businesses that performed better than Company trend included food, health and beauty, Christmas Trim, housewares, home storage, furniture, and sporting goods."
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 217 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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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.