Duckwall-ALCO (DUCK) Reports 9% Decrease in Comps for May
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Duckwall-ALCO Stores, Inc. (Nasdaq: DUCK) today announced that sales from continuing operations for the most recent fiscal four-week period ending May 30, 2010, decreased 7.5% to $39.2 million compared to $42.3 million in the prior-year month. Same-store sales decreased 9.0%.
Sales year-to-date decreased 3.7% to $150.4 million compared to prior year sales of $156.1 million, and same-store sales decreased 4.4%.
Rich Wilson, President and Chief Executive Officer, commented: "Our May sales performance was disappointing. While sales for the Memorial Day holiday were positive, they did not offset sales decreases experienced the first two weeks of the month, which were partly attributable to unseasonably cooler temperatures and heavy rain throughout our largest markets (Kansas, Oklahoma and Texas)."
Mr. Wilson added, "We are encouraged that our strategy to drive customer traffic with expanded assortments in food and consumables is working, particularly in Food, which is up 8.9%, and Health Care, which is up 3.2%. Business areas that did not perform to our expectation included Apparel, Spring/Summer Seasonal, and Sporting Goods, where we have lacked the inventory investment needed to achieve top line results. The Company has taken corrective actions to address these shortfalls for the remainder of the second quarter."
Sales year-to-date decreased 3.7% to $150.4 million compared to prior year sales of $156.1 million, and same-store sales decreased 4.4%.
Rich Wilson, President and Chief Executive Officer, commented: "Our May sales performance was disappointing. While sales for the Memorial Day holiday were positive, they did not offset sales decreases experienced the first two weeks of the month, which were partly attributable to unseasonably cooler temperatures and heavy rain throughout our largest markets (Kansas, Oklahoma and Texas)."
Mr. Wilson added, "We are encouraged that our strategy to drive customer traffic with expanded assortments in food and consumables is working, particularly in Food, which is up 8.9%, and Health Care, which is up 3.2%. Business areas that did not perform to our expectation included Apparel, Spring/Summer Seasonal, and Sporting Goods, where we have lacked the inventory investment needed to achieve top line results. The Company has taken corrective actions to address these shortfalls for the remainder of the second quarter."
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