United Retail Group Announces 9% Comparable Store Sales Increase for September
October 05 2006 - 3:30AM
Business Wire
United Retail Group, Inc. (NASDAQ-GM: �URGI�) today announced that
net sales increased 11% to $40.1 million during September 2006 from
$36.9 million during September 2005. Comparable store sales
increased 9% for the month. Net sales increased 8% for the fiscal
quarter to date to $66.5 million from $62.7 million in the same
period last year. Comparable store sales increased 6% for the
fiscal quarter to date. Net sales increased 6% for the fiscal year
to date to $296.8 million from $283.9 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 48% for the month of
September, 41% for the fiscal quarter to date and 54% for the
fiscal year to date. Raphael Benaroya, the Company�s Chairman,
President and Chief Executive Officer, commented, �I am pleased
with our September sales performance, which achieved record sales
for both the business and per average store although we were
somewhat more promotional than last year. The 9% comparable store
sales increase is on top of a 4% increase in September 2005. Both
our transactions per store and Shop @ Home sales continued to grow
year over year. Satisfied with the customer acceptance of our early
Fall merchandise offering, we look forward to the remainder of the
Fall selling season.� United Retail Group, Inc. is a specialty
retailer of large-size women�s fashion apparel, footwear and
accessories featuring AVENUE� brand merchandise. The Company
operates 491 AVENUE� stores with 2,162,000 square feet of selling
space, as well as the AVENUE.COM� 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 Group, Inc. (NASDAQ-GM: "URGI")
today announced that net sales increased 11% to $40.1 million
during September 2006 from $36.9 million during September 2005.
Comparable store sales increased 9% for the month. Net sales
increased 8% for the fiscal quarter to date to $66.5 million from
$62.7 million in the same period last year. Comparable store sales
increased 6% for the fiscal quarter to date. Net sales increased 6%
for the fiscal year to date to $296.8 million from $283.9 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
48% for the month of September, 41% for the fiscal quarter to date
and 54% for the fiscal year to date. Raphael Benaroya, the
Company's Chairman, President and Chief Executive Officer,
commented, "I am pleased with our September sales performance,
which achieved record sales for both the business and per average
store although we were somewhat more promotional than last year.
The 9% comparable store sales increase is on top of a 4% increase
in September 2005. Both our transactions per store and Shop @ Home
sales continued to grow year over year. Satisfied with the customer
acceptance of our early Fall merchandise offering, we look forward
to the remainder of the Fall selling 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 491 AVENUE(R) stores with 2,162,000 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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