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ABILENE, Kan., June 13, 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 first quarter ended May 5, 2013.
Net sales from continuing operations during the first quarter of fiscal 2014 increased 0.9% to $117.5 million, compared to $116.5 million in the first quarter of fiscal 2013. Same-store sales, excluding fuel centers, decreased 2.2% to $112.4 million during the first quarter of fiscal 2014.
Net loss for the first quarter of fiscal 2014 was $1.7 million, or $0.51 per diluted share, compared to a net loss of $1.3 million, or $0.34 per diluted share, for the first quarter of fiscal 2013. Loss from continuing operations, net of tax, for the first quarter of fiscal 2014 was $1.7 million, or $0.51 per diluted share, compared to a loss of $1.1 million, or $0.29 per diluted share, for the first quarter of fiscal 2013.
Richard Wilson, President and CEO, commented, "Operating results for the first quarter were negatively impacted by lingering winter weather conditions in many of our markets. More than 80% of our same-store sales performance came from outdoor businesses - Outdoor Living, Horticulture, Sporting Goods and Menswear. The decrease in these outdoor businesses was partially offset by favorable sales performance in Domestics, Housewares, and Women's Apparel where customers have responded favorably to the introduction of our new apparel lines."
Wilson continued, "Although consumers remain cautious due to slow economic growth, we are encouraged by the positive impact our changes in merchandise are starting to have, and we are equally excited about the potential benefit of price optimization initiatives we are rolling out in fiscal 2014."
Investor Conference Call
The Company will host an investor conference call at 10:00 a.m. Central Time on Friday, June 14, 2013, to discuss operating results for the first quarter ended May 5, 2013. The dial-in number for the conference call is 888-481-2844 (international/local participants dial 719-785-1753), and the Conference Code is 2271713. Parties interested in participating in the conference call should dial in approximately five minutes prior to 10:00 a.m. Central Time. A replay of the call will be available after 1:00 p.m. Central Time June 14, 2013 through June 19, 2013, by dialing 888-203-1112 (international/local participants dial 719-457-0820), and the Replay Code is 2271713. A replay of the call will also be available four hours after completion of the call by visiting the Investors page on the Company's website,
The Company has included certain tables in this press release that are set forth fully in the Company's 10-Q.