ABILENE, Kan., Aug. 7, 2008 (PRIME NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that its sales from continuing operations for the four weeks ended August 3, 2008 (fiscal month of July) increased approximately 4.7% to $35.4 million compared to $33.8 million in the prior-year month. Same-store sales for the same period decreased 6.0% with fuel and decreased 6.7% without fuel. July results were negatively impacted by the calendar shift of the July 4th holiday. Combined June and July same-store sales decreased 2.1% and 2.4%, respectively.
Sales for the second quarter increased 8.9% to $129.6 million compared to $119.0 million during the same period last year. Same-stores sales for the second quarter decreased 2.1% with fuel and decreased 2.4% without fuel, compared to an 8.4% and 8.5% declines in the first quarter, respectively.
Sales year-to-date increased 4.6% to $235.5 million compared to $225.3 million in the prior year and same-store sales decreased 5.0%. Without fuel, same-stores sales decreased 5.3% year-to-date.
Larry Zigerelli, President and Chief Executive Officer commented, "While we experienced improved same-store sales performance this quarter behind a better in-stock position, resuming same-store sales growth is a top Company priority. We are continuing to make improvements in our operational performance and are developing and implementing new merchandising and marketing strategies."
Store Operations Update
During the first half of fiscal 2009, the Company opened twelve ALCO stores. Six additional stores will be opened as planned for the remainder of fiscal year 2009, four of which will be replacement stores for either existing Duckwall stores or smaller ALCO stores.
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 257 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.