United Retail Group Announces 3% Comparable Store Sales Increase for August
August 31 2006 - 3:30AM
Business Wire
United Retail Group, Inc. (NASDAQ-GM: "URGI") today announced that
net sales increased 2% to $26.4 million during August 2006 from
$25.8 million during August 2005. Comparable store sales increased
3% for the month. Net sales increased 4% for the fiscal year to
date to $256.7 million from $247.0 million in the same period last
year. Comparable store sales increased 5% for the fiscal year to
date. Comparable store sales data does not include online ("Shop @
Home") sales. Shop @ Home sales increased 29% for the month of
August and 55% for the fiscal year to date. Raphael Benaroya, the
Company's Chairman, President and Chief Executive Officer,
commented, "I am pleased with our August sales performance. The 3%
comparable store sales increase is on top of an 8% increase in
August 2005. Both our transactions per store and Shop @ Home sales
continued to grow year over year." He added, "The average age of
our customer is 40+ and she is normally beyond school years.
Therefore, August is not a 'back-to-school' month for us, as it may
be for retailers who cater to younger customers. We now look
forward to the opening of the Fall season." 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 493 AVENUE(R) stores with 2,167,000 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.
United Retail Grp. (MM) (NASDAQ:URGI)
Historical Stock Chart
From Jun 2024 to Jul 2024
United Retail Grp. (MM) (NASDAQ:URGI)
Historical Stock Chart
From Jul 2023 to Jul 2024