Duckwall-ALCO swings to profit in Q3 with one-time gain

Abilene, Kan. --Duckwall-ALCO Stores reported Friday that it recorded a profit of $0.1 million in the quarter ended Oct. 30, compared with a loss of $2.1 million in the year-ago period.

Sales increased 3.6% to $109.8 million, and same-store sales excluding fuel centers increased 2.7%.

During the third quarter, the company received an insurance settlement for damage sustained during the second quarter of fiscal 2012, due to wind and hail, which led to a one-time gain of $2.3 million. Without the gain, net loss for the third quarter was $1.3 million.