United Retail Group's online sales rise 146% in Nov
01 Dec '05
2 min read
Large-size women's apparel and accessories seller United Retail Group Inc announced that net sales increased 4 percent to $35.2 million during November 2005 from $33.8 million during November 2004.
Comparable store sales increased 5 percent for the month on top of an 11 percent increase in November 2004. Comparable store sales data does not include online ("Shop @ Home") sales.
Shop @ Home sales increased 146 percent for the month of November and 117 percent for the fiscal year to date.
For the fiscal year to date, net sales increased 9 percent to $354.5 million from $325.2 million in the same period last year.
Comparable store sales increased 11 percent for the fiscal year to date.
Raphael Benaroya, the Company's Chairman, President and Chief Executive Officer, commented: "He is pleased with the sustained strength in their results.
Higher comparable store sales, coupled with positive momentum in transactions per average store on a year-over-year basis, are strong indicators of customer acceptance of their merchandise assortment."
Separately, the Company announced an amendment, effective in February 2006, of the Private Label Credit Card Program Agreement between the Company and Alliance Data Systems.
This program provides for the issuance of co-branded AVENUE credit cards to eligible customers of the Company.
Among other things, the amendment extends the term of the agreement to February 2012 and restructures the program economics.
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