Attached files
| file | filename |
|---|---|
| 8-K - ALCO STORES INC | duckwilsonform8k.htm |
| EX-10.1 - ALCO STORES INC | wilsonempagmt.htm |
| EX-10.2 - ALCO STORES INC | wilsonstockopagmt.htm |
FOR IMMEDIATE
RELEASE
DUCKWALL-ALCO
STORES APPOINTS
RICHARD
E. WILSON AS PRESIDENT AND CEO
ABILENE, Kan. (February 22,
2010) – Duckwall-ALCO Stores, Inc. (NASDAQ: DUCK), today announced its
Board of Directors has named Richard E. Wilson as President and Chief Executive
Officer effective February 22, 2010. Lawrence J. Zigerelli, the President and
CEO since July 2008, has resigned.
Wilson
has been Principal of Corporate Alliance Group, a management consulting company
specializing in marketing, product development, planning, strategy and
brand management for the retail and wholesale trade, since 2007.
Previously,
Wilson was Senior Vice President, General Merchandise, for BJ’s Wholesale Club,
where he was responsible for a $2 billion business including merchandising,
marketing, private brand development, global sourcing and club
presentation. Wilson also served as an executive with May Department
Stores, the Filene’s division of May, and Macy’s.
Royce
Winsten, Chairman of the Board, commented: “We want to thank Larry Zigerelli for
his efforts and accomplishments on behalf of Duckwall-ALCO shareholders. We wish
him well in his future endeavors.”
“We are
very pleased that Rich Wilson is joining us as CEO of Duckwall-ALCO Stores. Rich
is a true merchant. His leadership ability together with his expertise in
merchandising and retail management is the right skill set to move the Company
forward. As a consultant to the Board, Rich has recently completed an analysis
of the Company’s merchandising and marketing strategy. As a result, he will hit
the ground running and be able to focus the Company’s efforts on improving
future performance. We look forward to Rich making a positive impact on our
product offerings, service and sales growth in the periods ahead.”
About Duckwall-ALCO Stores,
Inc.
Duckwall-ALCO
Stores, Inc. is a regional broad line retailer that specializes in meeting the
needs of smaller, underserved communities across 23 states, primarily in the
central United States. The Company offers an exceptional selection of quality
products and recognized brand names at reasonable prices. Its specialty is
delivering those products with the friendly, personal service its customers have
come to expect. With 258 stores, Duckwall-ALCO Stores is proud to have
continually provided excellent products at good value prices to its customers
for 109 years. To learn more about Duckwall-ALCO Stores, Inc. visit
www.ALCOstores.com.
Forward-looking
statements
This
press release contains forward-looking statements, as referenced in the Private
Securities Litigation Reform Act of 1995 (“the Act”). Any forward-looking
statements are made by the Company in good faith, pursuant to the safe-harbor
provisions of the Act. These forward-looking statements reflect management’s
current views and projections regarding economic conditions, retail industry
environments, and Company performance. Factors which could significantly change
results include but are not limited to: sales performance, expense levels,
competitive activity, interest rates, changes in the Company’s financial
condition, and factors affecting the retail category in general. Additional
information regarding these and other factors may be included in the Company’s
10-Q filings and other public documents, copies of which are available from the
Company on request and are available from the United States Securities and
Exchange Commission.
###
For
more information, contact:
Donny
R. Johnson
Executive
Vice President - Chief Financial Officer
785-263-3350
X164
email:
djohnson@ALCOstores.com
or
Debbie
Hagen
Hagen
and Partners
913-652-6547
email:
dhagen@hagenandpartners.com