USA: United Retail Q3 Sales Up 6%
Plus-size apparel retailer United Retail Group has reported a 6 per cent rise in third-quarter net sales, as demand improved for a wide range of product categories.
Quarterly sales were $98.1 million compared to $92.6m last year, while same-store sales grew 8 per cent. Third-quarter net income was $1.9m compared with a loss of $6.3m a year ago.
Raphael Benaroya, chairman, president and chief executive officer, said: "Comparable store sales, merchandise margins and expenses all improved in the third quarter.
"The sales growth and margin increase is attributable to customer acceptance of our merchandise offering and pricing."
However, Benaroya said the company expects a challenging retail environment over the next few months.
United Retail Group is a specialty retailer of large-size women's fashion apparel, footwear and accessories under the Avenue name.
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