Duckwall-Alco 3Q Sales Slip
February 25, 2011-- Home Textiles Today,
Duckwall-Alco said third-quarter sales fell 0.6% to $110.5 million and same-store sells dropped 2.3%.
Net loss for the quarter ended Oct. 31 widened to $2.0 million, or 53 cents per share, from a net loss of $1.4 million, or 38 cents per share. Year to date, the net loss was $5.3 million, or $1.37 per share, compared to net earnings of $1.5 million, or 40 cents per share, in the year-ago period.
Earnings were impacted by a $484,000 charge related to the reset of 214 Alco stores, a $210,000 charge for integrating a pair of Associated Wholesale Grocers' brands into the product mix and $60,000 in severance related to layoffs in the home office.
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