True Religion’s Quarter Beats Street Forecasts

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True Religion Apparel Inc. said its second-quarter net income jumped 25 percent, helped by strong sales both at its retail stores and online, offsetting a decline in its wholesale unit.

After the markets closed on Thursday, the Vernon apparel company known for its designer jeans reported net income of $9.4 million (38 cents per share), compared with $7.5 million (30 cents per share) a year ago. Revenue rose 20 percent to $98.3 million.

Analysts surveyed by FactSet on averaged expected per-share profit of 33 cents on revenue of $91.6 million.

True Religion has worked to reduce its reliance on department store sales by opening its own boutiques and ramping up its ecommerce site. Direct-to-consumer revenue rose 42 percent to $58.8 million, with same-store sales up 14.8 percent. Wholesale revenue was down 18 percent to $21 million.

“Our first half results reinforce our view that our expanding direct-to-consumer business provides us the best opportunity to present our collection to loyal and new customers,” Chief Executive Jeffrey Lubell said in a statement.

Shares earlier closed up $1.30, or 4.6 percent, to $29.71 on the Nasdaq, and rose an additional 8 percent in after-hours trading.

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