3/07/07

Avenue.com puts web sales in the fast lane

United Retail Group, which operates Avenue.com, grew its web sales by 52% in 2006.

Bill Briggs , Senior Editor

United Retail Group Inc., which operates Avenue.com, grew its web sales by 52% in 2006.

For the year, Avenue.com, No. 315 in the Internet Retailer Top 500 Guide, posted e-commerce revenue of $21.4 million, compared with web sales of $14.1 million in 2005.

Overall the web accounted for 5% of total sales of $462.1 million vs. 3% of total revenue of $438.7 million in 2005. “We are now committed to four key growth initiatives for 2007 and beyond," says United Retail president and CEO Raphael Benaroya. The fourth goal is to maintain growth in online sales from Avenue.com. These initiatives are already under way and the elements necessary for growth in fiscal 2007 are in place.

United Retail Group is a specialty retailer of large-size women’s fashion apparel, footwear and accessories and operates 484 stores.

Topics:

business finance, United Retail Group

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