Duckwall-ALCO, reverses year-ago loss in fourth quarter, even as sales fell

Duckwall-ALCO turns a profit in 4th quarter

ABILENE, Kan. — Duckwall-ALCO Stores Inc., which runs 254 Duckwall and ALCO stores serving smaller communities in 23 central states, reported a fourth-quarter profit, even though its revenue fell from a year earlier, when it posted a loss.

CEO Rich Wilson said the company will change its merchandise to respond better to shoppers’ desire for good value this fiscal year.

“We remain committed to providing an easy-to-shop environment, with a product selection at competitive prices that meets the needs of the communities we serve,” Wilson said.

The company, based in Abilene, Kan., earned $1.5 million, or 37 cents per share, in the quarter that ended Jan. 31. That compares with a loss of $715,000, or 19 cents per share, a year earlier.

Its quarterly revenue fell 2.6 percent to $136.5 million from $140.1 million.

Sales at stores open at least a year fell 2.9 percent during the quarter. The figure is a key performance measure because it isn’t skewed by results at stores that open or close during the year.

For the full year, sales at stores open at least a year fell 0.7 percent, and the company earned $3 million, or 77 cents a share, up from a loss of nearly $5 million, or $1.31 a share, for the prior year.

Full-year revenue fell slightly to $488.7 million, from $489.8 million.

Duckwall-ALCO shares rose 32 cents, or 2.3 percent, to close at $14.51 on Thursday before the earnings report was released.