United Retail Group soars after reporting Q2 results above the Street

Shares of United Retail Group, Inc. (Nasdaq: URGI) are rocketing this morning after the specialty retailer of women's fashion apparel, footwear and accessories reported earnings for the second fiscal quarter above the Street.

For the three months ended August 4, the Rochelle Park, NJ.-based company recorded net income of $2.2 million, or $0.16 per diluted share, above the $0.13 per share five analysts polled by Thomson Financial were expecting.

Net sales increased 1% to $122.3 million from $120.9 million in the same quarter last year. Three analysts polled by Thomson Financial were expecting revenues of $122.30 million.

Comparable store sales declined 1% for the fiscal quarter. Comparable store sales data does not include online sales, which increased 52% for the quarter versus the same quarter last year.

Shares of United Retail Group soared 76.95%, or $5.81, to $13.36 Tuesday morning.

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