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UNITED RETAIL GROUP HAS RECORD SALES AND EARNINGS FOR QUARTER; OPERATING INCOME INCREASES 36 PERCENT

 UNITED RETAIL GROUP HAS RECORD SALES AND EARNINGS FOR QUARTER;
 OPERATING INCOME INCREASES 36 PERCENT
 ROCHELLE PARK, N.J., Nov. 10 /PRNewswire/ -- United Retail Group, Inc. (NASDAQ-NMS: URGI) announced financial results for the fiscal quarter ended Oct. 31, 1992.
 United Retail's total sales for the quarter were a record $81.0 million compared to $61.7 million in the third fiscal quarter of 1991, a 31 percent increase. Comparable store sales for the quarter increased 4 percent.
 United Retail's total sales for the fiscal year to date, that is, the 39-week period ended Oct. 31, 1992, were a record $237.9 million compared to $196.1 million in the comparable period in fiscal 1991, a 21 percent increase. Comparable store sales for the year to date increased 6 percent.
 Operating income during the quarter was a record $2.4 million compared to $1.8 million in the third fiscal quarter of 1991, a 36 percent increase.
 United Retail's net earnings for the quarter were a record $1.6 million ($.12 per share), an increase of 168 percent over net earnings of $.6 million for the third fiscal quarter of 1991.
 George R. Remeta, executive vice president and chief financial officer, announced the final completion of two infrastructure projects: converting management of United Retail's credit card program to Citibank (South Dakota), N.A.; and changing the outsourcing provider for United Retail's management information systems to ISSC, a subsidiary of IBM. He stated, "These two major infrastructure projects are behind us. All associated conversion expenses have been booked as of the end of the third quarter." Mr. Remeta added, "I am pleased that the new arrangements meet all of our operational criteria and growth objectives." He also reported that construction of the national distribution center in Troy, Ohio, was on schedule.
 Non-recurring adjustments to earnings made in connection with the initial public offering of United Retail in March 1992 resulted in a net loss for the year to date of $5.0 million ($.34 per share) compared with net earnings of $5.2 million in the comparable period in fiscal 1991. Without giving effect to the non-recurring adjustments, net earnings for the year to date would have been $8.6 million ($.68 per share), a 67 percent increase over the comparable period in fiscal 1991.
 United Retail runs major retail chains devoted to large-size women's clothing. The chains are composed of Sizes Unlimited, which has 236 stores; The Avenue, which has 157 stores; and 16 Plus, which has 95 stores.
 UNITED RETAIL GROUP, INC.
 (Unaudited -- 000's omitted)
 13 Weeks Ended 39 Weeks Ended
 10/31/92 11/2/91 Pct. 10/31/92 11/2/91 Pct.
 Change Change
 Net sales $80,996 $61,710 31.3 $237,898 $196,138 21.3
 Cost of goods sold,
 including buying
 and occupancy
 costs 60,706 45,323 33.9 170,630 140,482 21.5
 Gross profit 20,290 16,387 23.8 67,268 55,656 20.9
 General, admin. &
 store oper. exps. 17,897 14,625 22.4 53,185 44,036 20.8
 Non-recurring genl.
 admin. & store oper.
 expenses -- -- -- 16,330(A) -- --
 Oper. inc. (loss) 2,393 1,762 35.8 (2,247) 11,620 --
 Int. exp. (inc.),
 net (140) 768 -- (152) 2,934 --
 Non-recurring int.
 expense -- -- -- 6,083(A) -- --
 Inc. (loss) bef.
 income taxes 2,533 994 154.8 (8,178) 8,686 --
 Prov. (benefit) for
 income taxes 947 403 135.0 (3,129) 3,520 --
 Net income (loss) 1,586 591 168.4 (5,049) 5,166 --
 Weighted avg. no. of
 com. & com. equiv.
 shrs. outsdng. 13,616 8,452 12,741 8,464
 Net inc. per com.
 share $0.12 $0.08 $(0.34)(B) $0.63
 Net inc. per com.
 shr. excluding
 non-recurring
 charges $0.12 $0.08 $0.68(B) $0.63
 (A) Non-recurring
 charges related to
 the March 1992
 initial public
 offering.
 (B) Net income
 attributable to
 common stock includes
 addition of original
 issue discount in the
 amount of $765.
 Stores open beginning of
 period 483 365 371 368
 New stores opened 6 3 120 6
 Stores closed (1) (3) (3) (9)
 Stores open end of
 period 488 365 488 365
 -0- 11/10/92
 /CONTACT: George R. Remeta, executive vice president and chief financial officer of United Retail Group, 201-909-2110/
 (URGI) CO: United Retail Group, Inc. ST: New Jersey IN: REA SU: ERN


PS -- NY014 -- 9068 11/10/92 07:52 EST
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Date:Nov 10, 1992
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