United Retail Group Announces 3% Comp Sales Increase for November 2006
November 30 2006 - 3:30AM
Business Wire
United Retail Group, Inc. (NASDAQ-GM: �URGI�) today announced that
net sales increased 2% to $36.0 million during November 2006 from
$35.2 million during November 2005. Comparable store sales
increased 3% for the month on top of a 5% increase in November
2005. Comparable store sales data does not include online (�Shop @
Home�) sales. Shop @ Home sales increased 37% for the month of
November. For the fiscal year to date, net sales increased 5% to
$370.6 million from $354.5 million in the same period last year.
Comparable store sales increased 5% for the fiscal year to date on
top of an 11% increase in the prior year period. Shop @ Home sales
increased 50% for the fiscal year to date. Raphael Benaroya, the
Company�s Chairman, President and Chief Executive Officer,
commented: �The positive trend in comparable store sales continued
in November and we experienced an increase in transactions per
average store for the month. While we generated a solid increase in
comparable store sales, we believe results were somewhat tempered
by warmer than average weather for the month. We look forward to
cooler, more seasonable winter weather and a good holiday 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 490 AVENUE� stores with
2,157,000 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; 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 2% to $36.0 million during November 2006 from $35.2
million during November 2005. Comparable store sales increased 3%
for the month on top of a 5% increase in November 2005. Comparable
store sales data does not include online ("Shop @ Home") sales.
Shop @ Home sales increased 37% for the month of November. For the
fiscal year to date, net sales increased 5% to $370.6 million from
$354.5 million in the same period last year. Comparable store sales
increased 5% for the fiscal year to date on top of an 11% increase
in the prior year period. Shop @ Home sales increased 50% for the
fiscal year to date. Raphael Benaroya, the Company's Chairman,
President and Chief Executive Officer, commented: "The positive
trend in comparable store sales continued in November and we
experienced an increase in transactions per average store for the
month. While we generated a solid increase in comparable store
sales, we believe results were somewhat tempered by warmer than
average weather for the month. We look forward to cooler, more
seasonable winter weather and a good holiday 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 490 AVENUE(R) stores with
2,157,000 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; 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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