Duckwall-ALCO stores says its sales from continuing operations rose 3.5% to US$34.6M for four weeks ended Oct. 30 as same-store sales grew 2.8%
November 3, 2011
– Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK - News) today announced that sales from continuing operations increased 3.5% to $34.6 million for the fiscal four-week period ended October 30, 2011, compared to $33.4 million during the same period of the prior year. On a same-store basis, excluding fuel, sales increased 2.8% from a year earlier.
For the third quarter ended October 30, 2011, sales from continuing operations increased 3.6% to $109.8 million, compared to $106.1 million during the same period of the prior year. On a same-store basis, excluding fuel, sales for the third quarter increased 2.7% versus a year earlier.
For the nine-month period (39 weeks) ended October 30, 2011, sales from continuing operations increased 5.8% to $346.0 million, compared to $327.2 million during the same period of the prior year. On a same-store basis, excluding fuel, sales for the 39 weeks increased 4.4% versus a year earlier.
Rich Wilson, President and Chief Executive Officer, commented, "We are pleased with our 2.8% same-store sales performance for October, which included the shift of Halloween into fiscal November this year versus fiscal October last year. The Company's third quarter sales results represent the fourth consecutive quarter of same-store sales increases which are based on the improved value proposition, attractive merchandise offering and customer service in our ALCO stores. We continue to achieve growth in several areas of the business, including the Housewares, Commodities, and Softlines divisions, with strong performances in the Shoes, Decor and Giftware, Furniture, Movies and Music, Personal Care, and Ladieswear departments."
Investor Conference Call
The Company will host an investor conference call at 10:00 a.m. Central Time on Friday, December 9, 2011, to discuss operating results for the third quarter ended October 30, 2011. The dial-in number for the conference call is 888-219-1467 (international/local participants dial 913-312-0389), and the Conference Code is 4966266. Parties interested in participating in the conference call should dial in approximately five minutes prior to 10:00 a.m. Central Time. A replay of the call will be available after 1:30 p.m. Central Time December 9, 2011, through December 13, 2011, by dialing 888-203-1112 (international/local participants dial 719-457-0820), and the Replay Code is 4966266. 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, www.ALCOstores.com.
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 214 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 110 years. To learn more about the Company, visit www.ALCOstores.com.
The Duckwall-ALCO Stores, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5865
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.