United Retail Group Announces 9% May Comparable Store Sales Increase
June 01 2006 - 3:30AM
Business Wire
United Retail Group, Inc. (NASDAQ-NMS: "URGI") today announced that
net sales increased 7.5% to $42.1 million for May 2006 from $39.1
million for May 2005. Comparable store sales grew 9% for May and 5%
for the fiscal year-to-date. For the fiscal year-to-date, net sales
increased 4% to $151.5 million compared with $145.7 million in the
same period last year. Shop @ Home online sales, which are not
included in comparable store sales, increased 50% for May and 66%
for the fiscal year-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 pleased with the
Company's strong sales performance in May. Comparable store sales
for May increased 9% on top of 10% for May of 2005. From a
qualitative perspective, it's important that transactions per
average store increased and that every region of the country
achieved positive comps. Overall, these results show a positive
customer response to our product assortment and leave us well
positioned for the summer selling season." Mr. Benaroya added:
"Shop @ Home sales increased 50%. We believe that our Shop @ Home
activities continue to have room to grow and we are committed to
increasing Internet sales." 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 496 AVENUE(R) stores with 2,182,000 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
additional factors, among others, could also 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,
overall economic conditions; the impact of increased competition;
variations in weather patterns; uncertainties relating to execution
of the Company's product repositioning strategy; 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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