URGI Chairman pleased with strong sales results for March
16 Apr '07
2 min read
United Retail Group Inc (URGI) 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.
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