| Type | Discount store |
|---|---|
| Industry | Retail |
| Founded | 1901 |
| Headquarters | Abilene, Kansas |
| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, electronics, market, housewares. |
| Website | http://www.ALCOstores.com/ |
Duckwall-ALCO Stores, Inc. (NASDAQ: DUCK) is a small retail chain operating 258 stores in 23 states in the United States Midwest, founded in 1901 in Kansas by A.L. Duckwall. It has its headquarters in Abilene, Kansas.[1]
Contents |
In its early years the company operated five and dime (or "variety") stores called Duckwall's. In 1968 it began to move into the discount retail business and opened stores that were bigger than their five and dime counterparts called ALCO. ALCO stores (somewhat smaller than a non-supercenter Wal-Mart) provide the full selection of merchandise offered by the company, while the Duckwall stores provide a limited selection.
In 1985, after three acquisitions, the company went through a management-led leveraged buy-out. The company had 127 ALCO stores, and 33 Duckwalls in 14 states at that time.[2]
In May 1989, Duckwall-ALCO filed Chapter 11 bankruptcy, emerging in 1991 after securing financing from GE Capital, its primary creditor.[3] At least 52 stores were closed during this period. After 1989 they switched to their current business strategy of targeting communities where no direct retail competitor existed (such as Wal-Mart, Target or Kmart). The strategy proved to be successful for Duckwall-ALCO and as of June 2008 there are 205 ALCO stores and 59 Duckwall stores.
The company previously experimented with a combination discount and food store called C.O.L.A. (Cost of Living Adjusters) in Mineral Wells, Texas, which was discontinued.[3] The company also began a supercenter concept, ALCO Market Place, by providing limited perishable goods. (There is only one store that is a ALCO Market Place in the United States) These stores are considerably smaller than Wal-Mart's or Target's supercenter stores.
The company's headquarters, as well as their 352,000-square-foot (32,700 m2) distribution center are all located in Abilene, Kansas.
In 2010, the company reported to open 8 more new stores in the U.S.
Duckwall-ALCO stores announced on November 29, 2010 that it will close all 44 of its Duckwall stores. Forty-three of the stores will be closed permanently, except for one in Hettinger, N.D. which will be reopened as an ALCO.
In the Fall of 2011, Duckwall-ALCO stores opened its first store in Dallas-Fort Worth area of Texas in Grand Prairie, Texas.
Duckwall-ALCO has grown through various acquisitions over the years.