Strong sales lift True Religion Q2 profit 25%.
Strong demand for its high-end jeans at its retail stores and online have helped True Religion Apparel Inc to a 25.3% jump in second quarter profit.
Egytex News Desk
Source: www.mrketplace.com
The results seem to reinforce the company’s strategy that expanding its higher margin direct-to-consumer business is the best way to grow its business.
“The standout performance this quarter was our US Consumer Direct segment, which benefitted from new store openings, a same-store sales increase of 14.8% and consistent operating cost oversight, which combined to deliver a 370 basis point increase in the segment’s operating margin,” said chairman and CEO Jeffrey Lubell.
But while US retail and e-commerce sales rose 41.6% to $58.8 million, wholesale revenues fell 18.2% to $21 million, hurt by “challenging” sales of women’s denim in department stores.
International sales in the three months to June 30 were up 31.4% to $18.1 million as the company took more direct control of its business, especially in Canada and Germany.
Source: www.mrketplace.com
From the Egytex news archive, first published on 2 August 2011. Figures and names are as reported at the time.
