US: True Religion beats forecasts with Q1 profit hike
By Richard Woodard | 2 May 2012
- Q1 net profit up 15.6% to US$10.4m
- Sales up 13.9% to $106.8m
- Boosted by strong growth in US retail segment
Apparel business True Religion announced better-than-expected first half results, including double-digit increases to net profit and revenues.
The company said US consumer direct revenues, which make up more than 60% of its total sales, had risen by 22.6% in the three months to 31 March, with same store sales up 13.3%.
US wholesale revenues were up 2.8%, while international sales increased 3.6%, driven by retail sales growth in the UK and Canada.
“Our first quarter results were ahead of expectations, primarily due to strong same store sales at our US branded retail stores and new stores opened in the US, coupled with stringent expense control,” said Jeffrey Lubell, True Religion chairman, CEO and chief merchant.
“In our international segment we achieved net sales growth even as we repositioned our wholesale operations in Korea, and continued strength in sales in the speciality store channel drove the increase in our US wholesale segment.”
Sectors: Apparel, Finance, Retail
Companies: True Religion
View next/previous articles
2 May 2012 -Currently reading -
US: True Religion beats forecasts with Q1 profit hike
Related research
True Religion Apparel, Inc.: Retail Company Profile, SWOT & Financial Report
Canadean's "True Religion Apparel, Inc.: Retail Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a company overview, business description, competitive benchmar...
Related articles
There are currently no comments on this article
Be the first to comment on this article