ABILENE, Kan., Nov. 6, 2008 (GLOBE NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that sales from continuing operations for the four weeks ended November 2, 2008 (fiscal month of October) increased 7.3% to $36.6 million compared to $34.1 million in the prior-year month. Total sales, excluding fuel, increased 8.6% over the prior-year month. Same-store sales for the period decreased 2.7% with and without fuel. This same-store sales decline is an improvement over the previous two periods' same-store sales declines of 11.1% in August and 5.1% in September.
Sales for the third quarter of fiscal 2009 increased 4.7% to $115.5 million compared to $110.3 million during the same period last year. Same-store sales for the third quarter decreased 6.3% with fuel and decreased 6.6% without fuel.
Sales year-to-date increased 4.6% to $351.0 million compared to $335.5 million in the prior year, and same-store sales decreased 5.5%. Without fuel, same-store sales decreased 5.7% year-to-date.
Larry Zigerelli, President and Chief Executive Officer, commented, "The improved October sales performance met expectations and reflects the initial results of the new marketing program combined with a heightened focus on achieving operational excellence."
Store Operations Update
During the first three quarters of fiscal 2009, the Company opened 18 ALCO stores as planned. Eleven of these were stores in new markets, three were replacements of smaller ALCO stores, and four were replacements of previous Duckwall stores. No additional openings are planned for the remainder of fiscal 2009.
About Duckwall-ALCO Stores, Inc.
Duckwall-ALCO Stores, Inc. is a regional retailer that specializes in meeting the needs of smaller, underserved communities across 23 states, primarily in the central United States. The Company offers an exceptional selection of 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 259 stores, 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.