ABILENE, Kan., Feb. 7, 2008 (PRIME NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced its sales for January. Each period presented has one more week's sales in the current year when compared to the prior-year periods. The Company will report its actuals results and it will also describe each period for same-store percentages with equal weeks as "adjusted" by using a straight line recalculation approach in adjusting current year reported same-store sales amounts to a comparable number of weeks amount for comparison to prior year amounts. The Company is reporting "adjusted" sales for same-store sales only due to the Company opening a majority of its new stores during the fourth quarter and "adjusting" other sales on a comparable number of weeks basis would not be properly representative.
The Company's sales from continuing operations for the five weeks ended February 3, 2008 (fiscal month of January) increased approximately 29.7% to $37.1 million compared to $28.6 million in the prior-year month. Same-store sales increased 21.2 % and without fuel sales increased 20.3%. As adjusted, January same-store sales decreased 3.1% and without fuel sales decreased 3.7%.
Sales for the fourth quarter increased 13.8% to $152.3 million compared to $133.8 million during the same period last year. Same-stores sales increased 5.2% and without fuel sales increased 4.5%. As adjusted, fourth quarter same-store sales decreased 2.3% and without fuel sales decreased 3.0%.
Sales year-to-date increased 6.8% to $499.0 million compared to $467.3 million in the prior year and same-store sales increased 2.8% and without fuel sales increased 2.5%. As adjusted, year-to-date same-store sales increased 0.8% and without fuel sales increased 0.6%.
Bruce Dale, President and Chief Executive Officer commented, "January was a difficult month in a challenging fourth quarter for the Company as well as for virtually all retailers. As we look to fiscal year 2009, we believe our merchandising and marketing strategies are sound and we are excited about the opening of approximately seven new stores in the first quarter."
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 262 stores across 22 states, we are proud to have continually provided excellent products at good value prices to our customers for 107 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.