USA: United Retail's Sales Growth Continues

By just-style.com | 6 April 2005

Large-size women's apparel retailer United Retail Group Inc has posted a seventh consecutive month of same-store sales growth, after top line growth offset the effects of bad weather in the Northeast and Midwest.

For March 2005, same-store sales rose 9 per cent to $69.9 million from $64.2m in the same period last year, while net sales grew 7 per cent to $40.0m from $37.3m in March 2004.

In the financial quarter so far, same-store sales increased 11 per cent, with a net sales rise of 9 per cent to $69.9m from $64.2m in the same period last year.

Raphael Benaroya, chairman, president and chief executive officer, said that the company's two southernmost markets had been particularly strong in March, with 20 per cent and 14 per cent increases, respectively.

Benaroya added that sales growth was being encouraged by "a broad range of products and a strong increase in transactions, both of which indicate improved product, store and brand acceptance by customers".

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 512 Avenue stores with as well as the Avenue.com website.

Sectors: Apparel, Finance, Retail, Sourcing