FINANCE

Duckwall-ALCO narrows loss in Q3

BY CSA STAFF

Abilene, Kan. Duckwall-ALCO Stores Inc. said late Thursday it posted a slightly smaller loss in the third quarter, losing $1.4 million in the quarter ended Nov. 1, compared with $1.7 million a year earlier.

The company, which runs retail stores that serve smaller communities, cut operating expenses to improve its results even as sales fell, according to CEO Larry Zigerelli.

Revenue fell 2.9% in the quarter to $111.5 million from $114.9 million. Same-store sales fell 1.7%.

For the first nine months of fiscal 2010, Duckwall-ALCO reported a $5.8 million improvement in net earnings.

Zigerelli said, “We have made substantial progress in upgrading our merchandising, marketing and store operations programs, and are changing our culture in the continued face of a very tough economy. The holiday season is off to a good start, and we remain cautiously optimistic. Our turnaround is not complete by any means, but we continue to track with plans for store transformation and improving performance.”

Duckwall-ALCO operates 257 stores in 23 states.

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Duckwall-ALCO loss narrows

BY CSA STAFF

ABILENE, Kan. Duckwall-ALCO Stores reported that net sales from continuing operations for the third quarter of fiscal 2010 decreased 2.9% to $111.5 million and same-store sales decreased 1.7%.

Net loss for the third quarter was $1.4 million, or (38 cents) per basic share, compared with a net loss of $1.7 million, or (44 cents) per basic share, for the third quarter of the fiscal 2009.

Larry Zigerelli, president and CEO, commented, “Positive year-to-date same-store sales results and customer counts, combined with a significant increase in gross margin dollars and a major reduction in SG&A expenses, are encouraging. We have made substantial progress in upgrading our merchandising, marketing and store operations programs, and are changing our culture in the continued face of a very tough economy. The holiday season is off to a good start, and we remain cautiously optimistic. Our turnaround is not complete by any means, but we continue to track with plans for store transformation and improving performance.”

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Lowe’s launches Energy Centers

BY CSA STAFF

Mooresville, N.C.-based Lowe’s has announced the launch of Energy Centers in 21 of its California stores.

The Energy Centers are designed to be one-stop destinations to help customers create an energy plan that fits their budgets.

 

The center includes a touch-screen kiosk to help customers evaluate energy needs, while the center itself features products to meet those needs based on three criteria: Measure, reduce and generate — measure their energy use and loss, reduce energy consumption and generate their own energy, if possible.

 

“Homeowners are paying more attention than ever to their utility bills, and the first step to saving energy is tracking where it’s going,” said Nick Canter, Lowe’s executive vice president of merchandising. “By providing monitoring tools to help customers know their numbers, Lowe’s is helping them find the money-saving solution that’s right for them.”

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