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ALCO Stores, Inc. Reports Operating Results For Fourth Quarter And Fiscal Year Ended February 3, 2013

ABILENE, Kan., April 18, 2013 (GLOBE NEWSWIRE) -- ALCO Stores, Inc. (Nasdaq:ALCS), which specializes in providing a superior selection of essential products for everyday life in small-town America, today announced operating results for its fourth quarter and fiscal year ended February 3, 2013.

Net sales from continuing operations during the fourth quarter of fiscal 2013 (14 weeks) increased 8.5% to $146.8 million, compared to $135.3 million in the fourth quarter of fiscal 2012 (13 weeks). Excluding the 14th week of the fiscal 2013 quarter, net sales from continuing operations increased 3.6% to $140.2 million. Same-store sales, excluding fuel centers, increased 4.2% to $138.7 million during the fourth quarter of fiscal 2013. Excluding the 14th week of the fiscal 2013 quarter, same-store sales, excluding fuel centers, decreased 0.5% to $132.5 million.

Net earnings for the fourth quarter of fiscal 2013 were $2.0 million, or $0.61 per diluted share, compared to $0.8 million, or $0.21 per diluted share, for the fourth quarter of fiscal 2012. Earnings from continuing operations, net of tax, for the fourth quarter of fiscal 2013 were $2.0 million, or $0.61 per diluted share, compared to $0.9 million, or $0.23 per diluted share, for the fourth quarter of fiscal 2012.

Net sales from continuing operations during the 53 weeks of fiscal year 2013 increased 3.5% to $492.6 million, compared to net sales during the 52 weeks of fiscal year 2012 of $476.0 million. Excluding the 53rd week of fiscal year 2013, net sales from continuing operations increased 2.1% to $486.1 million. Same-store sales, excluding fuel centers, during the 53 weeks of fiscal year 2013 increased 0.3% to $469.4 million. Excluding the 53rd week of fiscal year 2013, same-store sales, excluding fuel centers, decreased 1.0% to $463.2 million.

Net earnings for fiscal 2013 were $1.3 million, or $0.36 per diluted share, compared to net earnings of $1.7 million, or $0.43 per diluted share, for fiscal 2012. Included within the fiscal 2012 results are the following two events: 1) $1.4 million benefit (net of tax), or $0.37 per diluted share, related to an insurance settlement received, and 2) $0.3 million of expense (net of tax), or $0.09 per diluted share, related to the accelerated amortization of financing fees on the Company's previous credit facility. The impact of these two events on prior year earnings is a net benefit of $1.1 million, or $0.28 cents per diluted share. Excluding these two events, net earnings for fiscal 2013 were $1.3 million, or $0.36 per diluted share, compared to adjusted net earnings of $0.6 million, or $0.15 cents per diluted share, for fiscal 2012. Earnings from continuing operations, net of tax, for fiscal 2013 were $1.7 million, or $0.48 per diluted share, compared to adjusted net earnings from continuing operations of $0.8 million, or $0.21 per diluted share, for fiscal 2012.

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