United Retail online sales go up in July

13 Aug '07

2 min read

United Retail Group Inc announced that net sales decreased 5% to $31.2 million during July 2007 from $32.8 million during July 2006.

• Comparable store sales decreased 6% for the month versus a 4% increase in July 2006.
• Net sales increased 1% for the second fiscal quarter to $122.3 million from $120.9 million in the same quarter last year.
• Comparable store sales declined 1% for the second fiscal quarter versus a 6% increase in the same quarter last year.
• Net sales increased 1% for the fiscal year-to-date to $233.3 million from $230.3 million in the same period last year.
• Comparable store sales for the fiscal year-to-date were flat.
• Online sales increased 39% for the month of July, 52% for the fiscal quarter and 52% for the fiscal year to date.

Raphael Benaroya, the Company's Chairman, President and Chief Executive Officer, commented: “The spring/summer season just ended was challenging in terms of consumer spending and unseasonable weather earlier in the season. In response, we increased promotional activity to bring inventory in line, which affected margins."

"With transactions higher than last year, we were able to maintain our record sales on a year-over-year basis both Company wide and per average store. Now, with residual summer inventory in good shape, our overall inventory and merchandise selection are well positioned as we head into the Fall selling season. We remain confident in the fundamentals of our business concept and continue to be focused on our growth strategy.”

United Retail Group Inc

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