United Retail Group Announces March 2006 Sales Results; Comparable Store Sales Increase 2%
April 06 2006 - 3:30AM
Business Wire
United Retail Group, Inc. (NASDAQ-NMS: "URGI") today announced that
net sales increased 2% to $40.7 million for March 2006 from $40.0
million for March 2005. Notably, the shift in Easter timing to
April of this year from March 2005 benefited sales for March of
last year. Comparable store sales for the month increased 2%. For
the fiscal quarter to date, net sales were flat at $70.0 million
compared with $69.9 million in the same period last year.
Comparable store sales for the fiscal quarter to date increased 1%.
Online sales, which we call "Shop @ Home" sales, are not included
in comparable store sales. Shop @ Home sales increased 80% for the
month of March and 82% for the fiscal quarter to date versus the
comparable periods of 2005. Raphael Benaroya, the Company's
Chairman of the Board, President and Chief Executive Officer,
commented: "I am very pleased with the month's results considering
that last year's numbers included sales from Easter week - a
meaningful and important selling week in our business. Also, while
cooler weather affected selling in the Northeast and West Coast
during the month of March, our most Southern stores continued to
show strength with an 11% comp increase over last year. Although
early, this may be a positive leading indicator of our Spring
assortments." United Retail Group, Inc. is a specialty retailer of
large-size women's fashion apparel, footwear and accessories
featuring AVENUE(R) brand merchandise. The Company operates 497
AVENUE(R) stores with 2,184,000 square feet of selling space, as
well as the AVENUE.COM(R) website at www.avenue.com. The above
release contains certain brief forward-looking statements
concerning the Company's operations and performance. The Company
cautions that any forward-looking statements are summary in nature,
involve risks and uncertainties and are subject to change based on
various important factors, many of which may be beyond the
Company's control. Accordingly, the Company's future performance
and financial results may differ materially from those expressed or
implied in any such forward-looking statements. The following
factors, among others, could affect the Company's actual results
and could cause actual results to differ materially from those
expressed or implied in any forward-looking statements included in
this release or otherwise made by management: threats of terrorism;
war risk; shifts in consumer spending patterns, consumer
preferences and overall economic conditions; the impact of
competition and pricing; variations in weather patterns;
fluctuations in consumer acceptance of the Company's products;
changes in the ability to develop new merchandise; store lease
expirations; increases in interest rates; the ability to retain,
hire and train key personnel; risks associated with the ability of
the Company's manufacturers to deliver products in a timely manner;
political instability and other risks associated with foreign
sources of production; and increases in fuel costs. The reports
filed by the Company with the Securities and Exchange Commission
contain additional information on these and other factors that
could affect the Company's operations and performance. The Company
does not intend to update the forward-looking statements contained
in the above release, which should not be relied upon as current
after today's date.
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