ALCO Stores reports favorable quarterly results
ABILENE, Kan. — Broad-line retailer ALCO Stores asserted that it is off to a favorable start this holiday season, after reporting a 2.7% in sales from continuing operations for the quarterly period ending November 25.
ALCO reported a profit for the fiscal four-month period ending November 25, showing an increase of $42.4 million from $41.3 million during the same period last year. Its same-store sales dipped 1.7% from a year earlier. Year-to-date figures also increased 1.8% to $383 million from $376.2 million during the same period last year. Year-to-date same-store sales dipped 1.3% from last year.
“We are pleased with ALCO's 2.7% increase in total sales, which reflects a good start to the holiday shopping season and the contribution of our newer stores,” said Rich Wilson, president and CEO. “In particular, sales at our two newest locations in Cut Bank, Montana, and Tioga, North Dakota, are both exceeding forecast. On a same-store basis, performance in November was strong in key holiday-season businesses, primarily toys, electronics, housewares, domestics, stationery and Christmas. In addition, the food and consumables businesses delivered same-store sales increases for November. Decreases in our apparel business negatively impacted the total same-store sales by 2.3%, primarily as a result of lower sales of cold-weather apparel.”
The retailer, which has been in business for 111 years, is primarily located in small underserved communities across 23 states and operates a total of 217 stores that offer both brand name and private label products.