USA: United Retail Group Sees June Sales Grow 6 Per Cent
George R Remeta, the company's vice chairman and chief administrative officer, said the growth was due to the fact that: "The marketplace has been very promotional. We have put significant pressure on our merchandise margins in order to keep seasonal inventories turning and below last year's levels on an average store basis."
For the fiscal quarter-to-date, total sales increased 9 per cent to $87.6 million compared with $80.3 million in the same period last year. Comparable store sales increased 7 per cent for the fiscal quarter-to-date.
For the fiscal year-to-date, total sales increased 7 per cent to $203.2 million compared with $189.2 million in the same period last year. Comparable store sales increased 4 per cent for the fiscal year-to-date.
Companies: Asda Group Limited
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