Duckwall-ALCO swings to profit in Q3 with one-time gain
Abilene, Kan. –Duckwall-ALCO Stores reported Friday that it recorded a profit of $0.1 million in the quarter ended Oct. 30, compared with a loss of $2.1 million in the year-ago period.
Sales increased 3.6% to $109.8 million, and same-store sales excluding fuel centers increased 2.7%.
During the third quarter, the company received an insurance settlement for damage sustained during the second quarter of fiscal 2012, due to wind and hail, which led to a one-time gain of $2.3 million. Without the gain, net loss for the third quarter was $1.3 million.
Saks offers Fifth Ave POV with redesigned site
NEW YORK — Saks Fifth Avenue has taken its brand beyond fashion retail with the launch of its redesigned SaksPOV website. Designed to offer a point of view from Fifth Avenue, the company said, the new site will feature multimedia content, designer features, Saks brand coverage and compelling lifestyle pieces. SaksPOV launched initially in December 2010.
“We will use SaksPOV as an outlet to engage with our customers and as a portal for our fashion lifestyle content,” said Denise Incandela, chief marketing officer and president of Saks direct. The site includes “blogs we love, guest editors and Twitter followers. We want to be the go-to destination for our customers.” SaksPOV contributors are industry vets, writers and photographers whose work has appeared in publications from Vogue to Wallpaper, from the Wall Street Journal to ARTnews.
The site’s content will be overseen by Sophia Chabbott, SaksPOV’s editorial director, and will offer the following regular columns:
How to Make It in NYC: This recurring column documents how a garment is conceived and produced in the Garment Center. The first piece features designer Nanette Lepore.
Open to Interpretation: Saks Fifth Avenue persuades creative thinkers in non-fashion fields to interpret Saks looks in their own medium. In the inaugural column, Saks commissioned manicurist Mayu Glazer to transform three Spring 2012 runway looks from Gucci, Proenza Schouler and Alexander McQueen into nail art.
Fashion on the Fly: In this feature, an on-the-cusp New Yorker gets styled in a Saks look. Dancer Shirley Catton modeled British school uniform-inspired looks in the launch spread.
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."