Duckwall-ALCO shows Q1 improvement, narrows loss

Abilene, Kan. Duckwall-ALCO Stores Inc. said Thursday it was able to narrow its fiscal first-quarter loss by cutting costs and increasing sales.

Losses for the first quarter totaled $50,000, compared with a loss of $5.9 million last year. Results include an $800,000 charge from a turnaround program.

Revenue rose 9% to $115.5 million. Same-store sales increased 6.2%.

The company is implementing a turnaround program that includes revamping merchandise, cutting costs and investing in technology.

“We are very pleased with these strong results, especially in light of the weak economy. All five elements of our turnaround program and strategic plan, that began in the fall of 2008, are on or ahead of schedule and continue to progress,” said Larry Zigerelli, president and CEO.

The five elements Zigerelli referenced are merchandise/marketing revampments, cost-cutting programs, service and in-stock improvements, technology investment and organization performance enhancement.