ABILENE, Kan. (AP) — Discount chain Duckwall-Alco Stores Inc. said Thursday that revenue at stores open at least a year decreased 5.9 percent in June, as severe thunderstorms and concerns about the economy curbed shopping.
This figure is a key gauge of a retailer's health because it strips out the impact of recently opened or closed stores.
Total revenue for the five weeks through July 1 declined 2.9 percent to $46.8 million.
The timing of the Fourth of July shopping weekend, which shifted out of June this year, also hurt sales, said CEO Rich Wilson.
Duckwall-Alco, based in Abilene, Kan., has 216 stores, primarily in small communities, in 23 states.
For its fiscal year so far, revenue at stores open at least a year is down 0.2 percent.
Duckwall-Alco's numbers don't include fuel sales.
The company's shares fell 65 cents, or 7.5 percent, at $8.08 in midmorning trading Thursday.