Duckwall-ALCO 2Q sales, earnings down

ABILENE, Kan. Duckwall-ALCO announced that net sales for the second quarter decreased 1.6% to $123.4 million and same-store sales decreased 3%.

Net earnings for the second quarter were $3 million, or 78 cents per diluted share, compared to net earnings of $3.3 million, or 85 cents per diluted share, for the second quarter of the prior fiscal year.

Larry Zigerelli, president and CEO, commented, "Strong fiscal year-to-date earnings reflect progress in both top and bottom line performance. Continued gross margin improvement is especially encouraging in the face of a weakened economy. All elements of our strategic transformation plan that began last fall remain on or ahead of schedule. We expect continued progress near term."