Content about Alco Stores Inc.

June 19, 2014

Alco Stores Inc. reported a net loss of $8.1 million in the first quarter of its fiscal year, up from a loss of $1.7 million in the year-ago period, amid an elimination of a tax benefit.

Coppell, Texas – Alco Stores Inc. reported a net loss of $8.1 million in the first quarter of its fiscal year, up from a loss of $1.7 million in the year-ago period, amid an elimination of a tax benefit. The company also announced its CFO has left the company.

Net sales decreased 4.1% to $104.7 million, compared to $109.2 million in the first quarter of fiscal 2014. Same-store sales, excluding fuel centers, decreased 7.1%. Alco president and CEO Richard Wilson cited several ongoing initiatives as providing promise for future performance.

February 18, 2014

A group called Concerned Alco Stockholders (CAS), led shareholders David Pointer and Dilip Singh, it intends to mail its own proxy statement to stockholders of Alco Stores Inc. for the purpose of giving Alco stockholders the opportunity to vote for new board members at the Alco 2014 annual meeting of stockholders.

Abilene, Kansas – A group called Concerned Alco Stockholders (CAS), led shareholders David Pointer and Dilip Singh, it intends to mail its own proxy statement to stockholders of Alco Stores Inc. for the purpose of giving Alco stockholders the opportunity to vote for new board members at the Alco 2014 annual meeting of stockholders.

October 22, 2013

Alco Stores, Inc. will voluntarily delist its common stock from the Nasdaq Stock Market on or about Oct. 31, 2013.

Coppell, Texas – Alco Stores, Inc. will voluntarily delist its common stock from the Nasdaq Stock Market on or about Oct. 31, 2013. The delisting of the company's shares is subject to stockholder approval of the proposed merger with an affiliate of Argonne Capital Group, LLC.

September 11, 2013

Alco Stores, Inc. is not accepting an acquisition proposal from Everbright Development Overseas, Ltd., Luis Chang and Mai Wong.

Coppell, Texas – Alco Stores, Inc. is not accepting an acquisition proposal from Everbright Development Overseas, Ltd., Luis Chang and Mai Wong. The Alco board of directors has determined that the proposal, tendered on Sept. 6, is not a superior proposal to a roughly $47 million offer the retailer received from Argonne Capital Group LLC on July 25.

July 29, 2013

Law firms Brodsky & Smith LLC and Levi & Korsinsky are investigating potential claims against the board of directors of Alco Stores Inc., in relation to a merger agreement between Argonne Capital Group, LLC and Alco.

ABILENE, Texas — Law firms Brodsky & Smith LLC and Levi & Korsinsky are investigating potential claims against the board of directors of Alco Stores Inc., in relation to a merger agreement between Argonne Capital Group, LLC and Alco. Under the terms of the transaction, announced July 25, Alco shareholders will receive $14 in cash for each share of Alco stock they own.

July 25, 2013

Alco Stores Inc. has entered into an agreement to be acquired by private investment firm Argonne Capital Group LLC.

Abilene, Kan. -- Alco Stores Inc. has entered into an agreement to be acquired by private investment firm Argonne Capital Group LLC.

The Atlanta-based Argonne will acquire all the outstanding share of Alco's common stock for $14 per share in cash. The proposed transaction, expected to close later year, would total about $47 million.

Alco's board of directors has unanimously approved the merger agreement and is recommending that shareholders approve it.

April 10, 2013

Alco Stores Inc. said Wednesday it is moving its corporate headquarters from Abilene, Kan., to a suburb of Dallas, citing the need to be “in a more metropolitan area.”

Abilene, Kansas -- Alco Stores Inc. said Wednesday it is moving its corporate headquarters from Abilene, Kan., to a suburb of Dallas, citing the need to be “in a more metropolitan area.”

The new Coppell, Texas offices will give the company easy access to many of its stores, other major retailers and transportation for its workers and business partners, CEO Rich Wilson said in a Wednesday statement.

The move is slated to occur in June.

 

June 28, 2012

Duckwall-Alco said it is officially changing its name to Alco Stores, Inc. An amendment at Wednesday’s annual shareholder meeting was approved.

Abilene, Kan. -- Duckwall-Alco said Thursday it is officially changing its name to Alco Stores, Inc. An amendment at Wednesday’s annual shareholder meeting was approved. The company’s ticker symbol on NASDAQ is now “ALCS.”

The 111-year-old chain has 216 locations in 23 states, mostly in small-town environments. Plans are on tap to open five new stores in fiscal 2013 and eight underperforming stores are slated to be closed.