ABILENE, Kan., April 10, 2008 (PRIME NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that its sales from continuing operations for the five weeks ended April 6, 2008 (fiscal month of March) increased approximately 2.9% to $43.1 million compared to $41.9 million in the prior-year month. Same-store sales decreased 5.6%. Without fuel sales, same-store sales decreased 5.5%.
Sales year-to-date increased approximately 2.1% to $76.3 million compared to $74.7 million during the same period last year. Same-store sales decreased 6.1% compared to the same period last year. Without fuel sales, same-store sales decreased 6.2%.
Despite the decrease in same-store sales, total Company sales increased because sales from 26 ALCO stores were excluded from the same-store computation because these stores were not open a complete fiscal year.
During the month of March the Company closed one Duckwall store, which will be replaced in that market by an ALCO store that opens in April.
Donny Johnson, Interim President and Chief Executive Officer commented, "Like other retailers, we are continuing to experience soft sales during this challenging retail environment. The Company continues to evaluate its inventory position and operating expense levels as we move into the spring and summer selling season. We are committed to maximizing our sales and profits."
Investor Conference Call
The Company will host an investor conference call at 10:00 a.m. Central Daylight Time on April 21, 2008 to discuss operating results in greater detail for the quarter and year ended February 3, 2008. The dial-in number for the conference call is 888-259-8389 (international/local participants dial 913-312-1269), and the Confirmation Code is 5094149. Parties interested in participating in the conference call should dial in approximately five minutes prior to 10:00 a.m. Central Daylight Time. A replay of the call will be available two hours after completion from April 21 through May 5 by dialing 888-203-1112 or for international/local callers by dialing 719-457-0820. The Replay Passcode is 5094149.
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. Its specialty is delivering those products with the friendly, personal service its customers have come to expect. With 260 stores across 22 states, Duckwall-ALCO Stores is proud to have continually provided excellent products at good value prices to its customers for 107 years. To learn more about Duckwall-ALCO Stores, Inc. visit 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 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.