ABILENE, Kan., Oct. 4, 2012 (GLOBE NEWSWIRE) -- ALCO Stores, Inc. (Nasdaq:ALCS) today announced that sales from continuing operations, excluding fuel, decreased 0.3% to $40.2 million for the fiscal five-week period ended September 30, 2012, compared to $40.3 million during the same period of the prior year. On a same-store basis, excluding fuel, sales decreased 3.8% from a year earlier.
On a year-to-date basis, sales from continuing operations, excluding fuel, increased 1.7% to $306.5 million for the fiscal 35-week period ended September 30, 2012, compared to $301.4 million during the same period of the prior year. On a same-store basis, excluding fuel, sales decreased 1.2% from a year earlier.
Rich Wilson, President and Chief Executive Officer, commented, "September sales declined as a result of slower consumer spending as well as the continued impact of changing weather patterns and drought on the majority of the Company's trading area. We continue to focus in the second half of the fiscal year on exciting new marketing plans, merchandise assortments and improved expense plans. This focus should position us to navigate the slower economic growth, as well as the challenging and competitive environment."
Wilson concluded, "As previously announced, we will be broadening our food offering to include frozen food in 153 stores during the months of October and November. We anticipate this significant enhancement will drive customer traffic and build average basket size."
About ALCO Stores, Inc.
ALCO Stores, Inc. is a broad-line retailer, primarily located in small underserved communities across 23 states. The Company has 215 ALCO stores that offer both name brand and private label products of exceptional quality at reasonable prices. We are proud to have continually provided friendly, personal service to our customers for the past 111 years. To learn more about the Company, visit www.ALCOstores.com.
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This press release contains forward-looking statements, as referenced in the Private Securities Litigation Reform Act of 1995 ("the Act"). Forward-looking statements can be identified by the inclusion of "will," "believe," "intend," "expect," "plan," "project" and similar future-looking terms. You should not rely unduly on these forward-looking statements. These forward-looking statements reflect management's current views and projections regarding economic conditions, retail industry environments, and the Company performance. Forward-looking statements inherently involve risks and uncertainties, and, accordingly, actual results may vary materially. Factors which could significantly change results include but are not limited to: sales performance, expense levels, competitive activity, interest rates, changes in the Company's financial condition, and factors affecting the retail category in general. Additional information regarding these and other factors may be included in the Company's 10-Q filings and other public documents, copies of which are available from the Company on request and are available from the United States Securities and Exchange Commission.
CONTACT: For more information, contact: Wayne S. Peterson Senior Vice President - Chief Financial Officer 785-263-3350 X164 email: wpeterson@ALCOstores.com or Debbie Hagen Hagen and Partners 913-642-6363 email: email@example.com
Source:ALCO Stores, Inc.