Duckwall-ALCO sees slight sales boost in Q4

ABILENE, Kan. — Duckwall-ALCO Stores fourth-quarter net sales increased 1% to $137.5 million, compared with the fourth quarter of fiscal 2011. Same-store sales, excluding fuel center sales, for the fourth quarter of fiscal 2012 decreased 0.6% to $133.4 million, compared with the fourth quarter of fiscal 2011. Net sales from continuing operations for fiscal year 2012 increased 4.4% to $482.8 million, compared with fiscal year 2011. Same-store sales, excluding fuel center sales, for fiscal year 2012 increased 3.0% to $467.7 million.

Net earnings for the fourth quarter of fiscal 2012 were $0.8 million, or 22 cents per diluted share, compared with $0.8 million, or 21 cents per diluted share, for the fourth quarter of fiscal 2011. Net earnings for fiscal 2012 were $1.7 million, or 43 cents per diluted share, compared with a net loss of $4.6 million, or $1.20 per diluted share, for fiscal year 2011.

Richard Wilson, president and CEO, commented, "We are excited about the many improvements that have taken place throughout the Company this year. We are also encouraged by our sales and net earnings growth over the prior year's results. While net sales were negatively impacted during the fourth quarter of fiscal 2012 as a result of unseasonably warm temperatures, we were still able to achieve same-store sales increases for the full year over fiscal 2011. We attribute this turnaround to our merchandising strategies and enhanced product mix, which is providing ALCO customers with better value and a more organized shopping environment. In addition, net earnings improvement over the prior year has been achieved through cost-reduction initiatives."