Duckwall-ALCO cuts HQ staff by 10%
May 6, 2008,
Abilene, Kan. – Rural general merchandiser Duckwall-ALCO Stores is cutting its headquarters staff by 10%, part of its continuing cost-control campaign.
The 251-store chain said overall labor reductions to date will generate an annualized savings of approximately $2.5 million, which will equate to a more than 10% cut in fiscal year office SG&A expenses.
“While cutting expenses and streamlining the corporate infrastructure, we have also identified numerous opportunities for improving store operations and the value we offer customers in our stores,” emphasized interim ceo Donny Johnson.
The $499 million retailer has been operating under new management since March 7, the result of successful efforts by activist shareholders led by Strongbow Capital and Raymond French.
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