Online sales at Avenue.com rise 51% year-over-year
Sales at United Retail Group’s Avenue.com, a retailer of women’s apparel, rose 51% to $6.3 million for the fiscal first quarter ended May 5, up from $4.2 million a year ago, the company says.
In comparison, total net sales for Q1 rose 1% to $111 million from $109.4 million a year ago, as comp store sales were flat. Comp store sales, which are sales from stores open at least a year, are considered a good measurement of a retailer’s ongoing strength in store sales.
Raphael Benaroya, president, CEO and chairman, says continued growth in online sales is among the company’s four key objectives for this year. “We are focused on improving store productivity, opening new stores, expanding the Avenue Body intimates business and further growing online sales,” he says.
United Retail Group, No. 292 in the Internet Retailer Top 500 Guide, operates 485 Avenue stores in addition to Avenue.com.
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