True Religion Apparel Earnings: Here’s Why Shares Are Up Now
True Religion Apparel Inc. (NASDAQ:TRLG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4%.
True Religion Apparel Inc. Earnings Cheat Sheet
Results: Net income decreased -6.7% to $13.5 million (55 cents per diluted share) in the quarter versus a net gain of $14.47 million in the year-earlier quarter.
Revenue: Rose 14.73% to $137 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: True Religion Apparel Inc. reported adjusted net income of 55 cents per share. By that measure, the company beat the mean analyst estimate of $0.53. It beat the average revenue estimate of $130.02 million.
Quoting Management: “We finished the fourth quarter with double digit sales increases in our three key segments. And, we expanded our gross margin in our domestic consumer direct and wholesale segments. These two segments combined for 82% of our net sales this quarter,” stated Jeffrey Lubell, Chairman, Chief Executive Officer and Chief Merchant of True Religion Apparel, Inc. “As we start 2013, our plan is to enhance our men’s merchandise offering with sportswear innovation and re-establish the True Religion Brand Jeans women’s collection with updated, well-edited core basic denim bottoms and fashion-forward concepts.”
Key Stats (on next page)…