Duckwall-ALCO 2Q earnings rise

ABILENE, Kan. Duckwall-ALCO Stores reported that net earnings for the second quarter were $2.6 million, or 67 cents per diluted share, compared with net earnings of $1.4 million, or 37 cents per diluted share, in the second quarter of the prior fiscal year. Net income year-to-date was $362 million, or 9 cents per diluted share, compared to net income of $2 million, or 51 cents per diluted share, in the prior fiscal year.

The company reported a 4% increase in net sales from continuing operations to $124.4 million. The company reported a same-store sales increase of 2.1%. Year-to-date sales from continuing operations increased 3.5% to $235.7 million, while same-store sales increased 1.7%.

Commenting on the results of the second quarter of fiscal 2008, Bruce Dale, president and ceo stated: ``While our second quarter results are somewhat encouraging, the most important part of the year is ahead of us. We are confident that the plans for the balance of the year are solid and we consider our sales performance for August a good start."