United Retail Group July comparable store sales up 4%
04 Aug '06
2 min read
Fashion apparel retailer United Retail Group Inc announced that net sales increased 4% to $32.8 million during July 2006 from $31.5 million during July 2005.
Comparable store sales increased 4% for the month on top of a 17% increase in July 2005.
Net sales increased 5% for the second fiscal quarter to $120.9 million from $114.7 million in the same quarter last year.
Comparable store sales increased 6% for the fiscal quarter on top of a 15% increase in the same quarter last year.
Net sales increased 4% for the fiscal year to date to $230.3 million from $221.2 million in the same period last year.
Comparable store sales increased 5% for the fiscal year to date on top of a 13% increase during the same period last year.
Comparable store sales data does not include online ('Shop @ Home') sales. Shop @ Home sales increased 49% for the month of July, 48% for the fiscal quarter and 59% for the fiscal year to date.
Raphael Benaroya, the company's Chairman, President and CEO, said, "I am pleased that our strong sales performance is continuing and am particularly gratified that the 4% increase in July 2006 was on top of a 17% increase in July 2005.”
He added, "The consistent growth of comparable store sales over the past eight quarters was the result of repositioning our merchandise assortment. Now, we are ready to focus on expansion of our selling square footage by opening new stores and pursuing other growth initiatives in addition to continued sales productivity growth in our existing space."
United Retail Group Inc is a specialty retailer of large-size women's fashion apparel, footwear and accessories featuring AVENUE brand merchandise.
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