Duckwall-ALCO Stores returns to profit in Q3
ABILENE, Kan. — Broad-line retailer Duckwall-ALCO Stores increased sales and returned to profit in the third-quarter as the company continued to experience top-line growth across multiple categories. The company reported that net sales for the third quarter of fiscal 2012 increased 3.6% to $109.8 million, compared with the third quarter of fiscal 2011. Same-store sales, excluding fuel center sales, increased 2.7%.
Net earnings for the third quarter of fiscal 2012 were $0.1 million, or 2 cents per diluted share, compared with a net loss of $2.1 million, or 55 cents per diluted share, for the third quarter of fiscal 2011.
Richard Wilson, president and CEO, commented, "We are pleased with the improvement of our third-quarter operating results. The continued improvement in top-line sales marks our fourth consecutive quarter of same-store sales increases. We continued to experience top-line growth in the commodities, home, and softlines divisions, with the top-performing departments for the quarter being candy/food, personal care, shoes, furniture, and infants."