ABILENE, Kan., Nov. 6, 2007 (PRIME NEWSWIRE) -- Duckwall-ALCO Stores (Nasdaq:DUCK) opened its 200th ALCO store last week and is on track to open a total of 18 new stores in 2007.
The 200th ALCO Store -- located in Meade, Kan. -- is one of four new ALCO stores that held Grand Openings on November 1. That brings to twelve the number of new ALCO stores opened to-date in 2007. The Company will open six additional new ALCO stores prior to Thanksgiving and will relocate one ALCO store. One ALCO store relocation was also opened on November 1.
Two of the newly opened ALCO stores are located in Georgia, a state in which the Company has not operated in the past. A third store will open in Georgia on November 8. With the addition of the state of Georgia, the company today operates a total of 259 stores in 22 states. That number will grow to 265 in November.
"We have been committed to an aggressive expansion plan," said president and CEO Bruce Dale, "and our talented team has done a tremendous job in helping us to achieve those goals. We are especially pleased to open new stores in Georgia. Although our focus in the past has been the Midwest, like our new locations in Georgia, we have an extensive number of possible store locations that we are exploring."
In June, Duckwall-ALCO had announced in its revised Fiscal 2008 plan that the Company would open a total of 18 new stores in 2007. Two stores were opened early in the year with the majority of stores slated to open September through November. The aggressive new store expansion effort was launched on the heels of Duckwall-ALCO's major information technology upgrade, which was completed in January 2007.
Virtually all of the Company's new stores opened since September incorporate environmentally friendly initiatives including pre-insulated wall panels to conserve energy, polished concrete floors instead of tile and 100% recyclable steel in the roof, ceiling and walls.
"We are very excited about implementing environmentally friendly initiatives as we build our new stores," said Dale. "As we continue our aggressive expansion efforts into next year, not only are the building materials for these new stores better for the environment, they allow us to build new stores faster and they are more cost effective for us to operate."
Dale added, "Early results from the new stores opened to-date are extremely positive and we look forward to a very successful holiday season."
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 259 stores across 22 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.