New-store openings have also been delayed due developers pushingback the construction times of new projects, he says. About 30 newstores are planned for the coming year, and executives wouldeventually like to open about 50 to 60 new units annually.
Last year, United Retail opened six stores and closed about 21underperforming units, while remodeling 24. Between 15 and 20closures are planned during 2007, as well as 30 renovations. Thelocally-based company currently operates 487 Avenue stores.
During the fourth quarter, which ended Feb. 3, United Retail'ssame-store sales inched up 0.5% year over year. Total sales reached$127.6 million on a 6.8% increase, while operating income droppedto $3.3 million from $4.5 million.
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