Duckwall-ALCO (DUCK) Comps Down 2.3% for December 2009
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Duckwall-ALCO Stores, Inc. (NASDAQ: DUCK) today announced that sales from continuing operations for the most recent fiscal five week period ending January 3, 2010, decreased 2.3% to $65.1 million compared to $66.6 million in the prior-year month. Same-store sales were down 2.3%.
Year-to-date sales increased 0.9% to $452.4 million compared to the prior-year $448.1 million, and same-store sales decreased 0.6%.
Larry Zigerelli, President and Chief Executive Officer, commented: "Same-store sales for the holiday season, including Thanksgiving, dipped 1.0% after being down 3.8% in November. Customer traffic was up 0.4%, in-line with expectation but cautious spending resulted in a 1.4% decline in the average market basket. A portion of sales loss was due to reduced purchases of Seasonal merchandise by approximately 25%. Clearance inventory coming out of the season was significantly lower than last year as our inventory plan has been achieved."
Zigerelli continued, "Additionally, sales growth is being held back by job loss in key markets. Holiday same-store sales in stable markets out-performed job loss markets by 2.5%. We have not seen a further deterioration of job loss in the last couple of months. Encouragingly, our market shares continued to improve, positioning us well when the economy rebounds. Lower cost progress also continued."
Year-to-date sales increased 0.9% to $452.4 million compared to the prior-year $448.1 million, and same-store sales decreased 0.6%.
Larry Zigerelli, President and Chief Executive Officer, commented: "Same-store sales for the holiday season, including Thanksgiving, dipped 1.0% after being down 3.8% in November. Customer traffic was up 0.4%, in-line with expectation but cautious spending resulted in a 1.4% decline in the average market basket. A portion of sales loss was due to reduced purchases of Seasonal merchandise by approximately 25%. Clearance inventory coming out of the season was significantly lower than last year as our inventory plan has been achieved."
Zigerelli continued, "Additionally, sales growth is being held back by job loss in key markets. Holiday same-store sales in stable markets out-performed job loss markets by 2.5%. We have not seen a further deterioration of job loss in the last couple of months. Encouragingly, our market shares continued to improve, positioning us well when the economy rebounds. Lower cost progress also continued."
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