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United Retail comp store sales down 8%
10 May '07
2 min read
United Retail Group Inc announced that net sales were $36.9 million for April 2007 compared with $39.4 million for April 2006.
Comparable store sales decreased 8% for the month. The Easter week occurred in the fiscal month of March this year and in the fiscal month of April last year. Comparable store sales increased 2% for the combined March and April period.
For the fiscal quarter, net sales were $111.0 million compared with $109.4 million in the same quarter last year. Comparable store sales for the fiscal quarter were flat.
Comparable store sales data does not include online sales from avenue.com. Online sales increased 44% for the month of April and 51% for the fiscal quarter versus the comparable period of 2006.
Raphael Benaroya, the Company's Chairman of the Board, President and Chief Executive Officer, commented: “Despite April sales results which reflect the effect from the shift in Easter, comparable store sales for the combined March and April period increased 2%.”
He added: “For the quarter, our sales performance was affected by the unseasonable weather in many regions of the country. In response, we intensified marketing and promotional activity. We currently expect to report a significant year-over-year decrease in operating income. It is my strong view that these factors are transitory in nature and not due to any fundamental issues with the business.”
He concluded: “We are continuing to direct our efforts toward our key growth initiatives for 2007, which are focused on improving store productivity, opening new stores, expanding AVENUE BODY, and further growing online sales.”
Comparable store sales decreased 8% for the month. The Easter week occurred in the fiscal month of March this year and in the fiscal month of April last year. Comparable store sales increased 2% for the combined March and April period.
For the fiscal quarter, net sales were $111.0 million compared with $109.4 million in the same quarter last year. Comparable store sales for the fiscal quarter were flat.
Comparable store sales data does not include online sales from avenue.com. Online sales increased 44% for the month of April and 51% for the fiscal quarter versus the comparable period of 2006.
Raphael Benaroya, the Company's Chairman of the Board, President and Chief Executive Officer, commented: “Despite April sales results which reflect the effect from the shift in Easter, comparable store sales for the combined March and April period increased 2%.”
He added: “For the quarter, our sales performance was affected by the unseasonable weather in many regions of the country. In response, we intensified marketing and promotional activity. We currently expect to report a significant year-over-year decrease in operating income. It is my strong view that these factors are transitory in nature and not due to any fundamental issues with the business.”
He concluded: “We are continuing to direct our efforts toward our key growth initiatives for 2007, which are focused on improving store productivity, opening new stores, expanding AVENUE BODY, and further growing online sales.”
United Retail Group Inc
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