ABILENE, Kan., July 3, 2007 (PRIME NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that it will not rebuild two of its stores that were destroyed by tornadoes earlier this year.
The Company's ALCO Store in Tulia, TX. was hit by a tornado on April 21. The store had opened there in 1994. Less than two weeks later, on May 4, the Company's Duckwall Store in Greensburg, Kan. was demolished by a tornado. Duckwall had served the Greensburg community for 40 years.
Commenting on the rebuilding decision, Duckwall-ALCO President and CEO Bruce Dale said, "We have considered all of the factors involved, and -- although we have valued the opportunity to serve the people of both Tulia and Greensburg -- we regretfully announce that we will no longer be a part of these communities. We have provided assistance to those employees whose homes were destroyed, and we have offered employees at both stores new positions within the Duckwall-ALCO chain. Making the decision about these stores was an extremely difficult one."
About Duckwall-ALCO Stores, Inc.
Duckwall-ALCO Stores, Inc. is a regional retailer that specializes in meeting the needs of smaller, underserved communities throughout the central United States. The Company offers an exceptional selection of fashionable merchandise, quality products and recognized brand names at reasonable prices. Our specialty is delivering those products with the friendly, personal service our customers have come to expect. With 255 stores across 21 states, we are proud to have continually provided excellent products at good value prices to our customers for 106 years. To learn more about Duckwall-ALCO Stores, Inc. visit our website at www.ALCOstores.com.
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.