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Schoenbeck to retire from Duckwall-ALCO

2/6/2008

ABILENE, Kan. Duckwall-ALCO Stores announced today that James Schoenbeck, senior vp of real estate, is retiring after more than 32 years of service to the company.

Phillip Hixon, who has been promoted to senior vp of store development, will assume responsibility for real estate while continuing to direct the store opening process and merchandising presentation efforts. Hixon joined the company in December of 2006 after many years with Michael's Stores.

Bruce Dale, president and ceo, said, "We thank Jim Schoenbeck for his significant contribution over the past 32 years and congratulate him on a well-deserved retirement. We know that our real estate will be in good hands with Phil Hixon and his team, and we congratulate Phil on his new role. Phil's vast experience will continue to be critical to the company as we continue with our aggressive growth strategy. He did an outstanding job of opening 18 new stores last year and we look forward to his leadership as we prepare to open as many as 25 new stores this year."

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