Alco Stores (ALCSQ) 10-Q 2014 Q2 Quarterly report

Exhibit 12

ALCO Stores, Inc.

Same-Store Sales and Gross Margin

(amounts in thousands except average basket and gross margin percentage)

	Thirteen Week Periods Ended						Twenty-Six Week Periods Ended
	August 4, 2013			July 29, 2012			August 4, 2013			July 29, 2012
Sales	$	119,251		$	117,626		$	229,401		$	231,301
Customer transactions		4,864			5,006			9,281			9,815
Average basket	$	24.52		$	23.50		$	24.72		$	23.57
Gross Margin	$	38,139			39,181		$	71,073		$	73,201
Gross margin percentage		31.6	%		32.8	%		30.6	%		31.2	%

(1) Same-stores are those stores which were open at the end of the reporting period, had reached their fourteenth month of operation, and include store locations, if any, that had experienced a remodel, an expansion, or relocation.  Same-stores also include the Company’s transactional website.

(2) Same-store results exclude the Company’s two fuel center locations.

(3) Average basket is calculated by dividing sales by customer transactions.

(4) Gross margin percentage is defined as sales less cost of sales, expressed as a percentage of sales.