ABILENE, Kan., Feb. 4, 2010 (GLOBE NEWSWIRE) -- Duckwall-ALCO Stores, Inc. (Nasdaq:DUCK) today announced that sales from continuing operations for the most recent fiscal four week period ending January 31, 2010, decreased 2.1% to $29.3 million compared to $30.0 million in the prior-year month. Same-store sales were down 2.8%.
Sales for the fiscal fourth quarter decreased 2.7% to $134.7 million compared to $138.4 million in the prior year quarter, and same-store sales decreased 2.9%. Year-to-date sales increased 0.8% to $481.7 million compared to the prior-year $478.1 million, and same-store sales decreased 0.7%.
Larry Zigerelli, President and Chief Executive Officer, commented: "January same-store sales performance was softer than expected as a result of significantly less post-Holiday clearance. Healthy inventory generated strong gross margin results. We were also facing comparison to strong 5.6% growth last January versus the prior year. We will cover progress on all elements of our turnaround program in our April earnings call."
About Duckwall-ALCO Stores, Inc.
Duckwall-ALCO Stores, Inc. is a regional broad line 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 258 stores, Duckwall-ALCO Stores is proud to have continually provided excellent products at good value prices to its customers for 109 years. To learn more about Duckwall-ALCO Stores, Inc. visit www.ALCOstores.com.
The Duckwall-ALCO Stores, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5865
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.