ABILENE, Kan., June 5, 2008 (PRIME NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that its sales from continuing operations for the four weeks ended June 1, 2008 (fiscal month of May) increased approximately 7.9% to $42.8 million compared to $39.7 million in the prior-year month. Same-store sales, for the same period, decreased 2.0% with fuel and 2.5% without fuel.
Sales year-to-date increased 2.0% to $148.8 million compared to $146.0 million in the prior year, and same-store sales decreased 6.62% with fuel and decreased 6.9% without.
Donny Johnson, Interim President and Chief Executive Officer commented, "We experienced improved same-store sales during May when compared to the first quarter. This improvement primarily came from our hardlines business due to better in-stock levels. Adjustments are being made in our buying and marketing strategies to accommodate the shift we are seeing in consumer spending towards consumables and commodities."
Store Operations Update
During the month of May the Company opened four ALCO stores.
Investor Conference Call
The Company will host an investor conference call at 10:00 a.m. Central Daylight Time on June 12, 2008 to discuss operating results in greater detail for the first quarter ended May 4, 2008. The Company will release earnings following the close of business on June 11, 2008. The dial-in number for the conference call is 888-219-1420 (international/local participants dial 913-312-1390), and the Confirmation Code is 6945457. 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 June 12 through June 27 by dialing 888-203-1112 or for international/local callers by dialing 719-457-0820. The Replay Passcode is 6945457.
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 256 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.