Duckwall-ALCO 3Q loss deepens

ABILENE, Kan. Duckwall-ALCO Stores today announced that net loss for its third quarter ended Oct. 28 was $1.6 million, or 43 cents per basic share, compared with a net loss of $648,000 or 17 cents per basic share in the same period last year.

Net sales from continuing operations for the third quarter increased 5% to $114.3 million, while same-store sales increased 2.2%.

Commenting on the results of the third quarter of fiscal 2008, Bruce Dale, president and ceo stated, ``We are managing our business well despite a very difficult selling environment. We are confident we will achieve our planned gross margin percent, our SG&A expense, and our inventory targets for fiscal 2008. Any under performance to current EBITDA guidance will be a direct result of lower than expected sales. I remain very optimistic about the Company's long-term outlook and feel the positive impact from our three-year turnaround plan will begin to be reflected in the Company's fiscal 2009 results.''