United Retail Group Announces March 2007 Sales Increase
April 12 2007 - 3:30AM
Business Wire
United Retail Group, Inc. (NASDAQ-GM: �URGI�) today announced that
net sales for fiscal March 2007 increased 12% to $45.5 million from
$40.7 million for fiscal March 2006. Comparable store sales for the
fiscal month increased 11%. The Easter week occurred in the fiscal
month of March this year and in the fiscal month of April last
year. The Easter shift contributed a low-single digit comparable
store sales benefit for the month. For the fiscal quarter to date,
net sales increased 6% to $74.1 million from $70.0 million in the
same period last year. Comparable store sales for the fiscal
quarter to date increased 5%. Comparable store sales data does not
include online sales from avenue.com. Online sales increased 50%
for the fiscal month of March and 55% for the fiscal quarter to
date versus the comparable periods of 2006. Raphael Benaroya, the
Company�s Chairman of the Board, President and Chief Executive
Officer, commented: �I am pleased with the strong sales results for
March. Our 11% comparable store sales increase was driven by a
broad range of merchandise categories, particularly when the
weather was more seasonable.� 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 486 AVENUE� stores with 2,141,000 square feet of selling
space, as well as the AVENUE.COM� website at 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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