ABILENE, Kan., June 1, 2006 (PRIMEZONE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that its sales from continuing operations for the four weeks ended May 28, 2006 (fiscal month of May) increased approximately 12.9% to $40.6 million compared with $36.0 million in the prior-year month, and same-store sales increased 8.8%.
Sales year-to-date increased 11.7% to $149.7 million compared to $134.0 million in the prior year, and same-store sales increased 7.2%.
The Company also reported that - due to the way sales from the Company's two fuel centers were reported last year - the percentage increases in same-store sales for April and the first quarter were overstated. The total sales from continuing operations for the month and quarter were stated correctly. The restated same-store sales increase for the month of April was 14.6% and the first quarter same-store sales increase was 6.6%.
Commenting on the May sales results, Bruce C. Dale, President and CEO stated, "The 8.8% comp store sales increase for the month continues to give us confidence in our merchandise initiatives. As we further develop and implement these changes, we expect to continue reporting very positive results."
About Duckwall-ALCO Stores, Inc.
Duckwall-ALCO Stores, Inc. is a regional retailer that specializes in offering an exceptional product selection at reasonable prices to smaller communities throughout the central United States. Our specialty is delivering those products with the friendly, personal service found in the stores of yesteryear, but with the modern convenience our customers have come to expect. With 254 stores across 21 states, we are proud to have continually provided high quality products at good value prices to our customers for 105 years.
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 quarterly 10-Q filings and other public documents, copies of which are available from the Company on request.