Higher sales at True Religion

09/05/2007

California-based lifestyle brand True Religion Apparel, Inc. has reported net sales of $36.1 million for the first quarter, up from $35.6 million in the 2006 first quarter.

The company’s consumer direct business increased significantly to $4.1 million versus $677,000 in the first quarter of 2006, while its US wholesale sales were $25.1 million compared with $25.6 million. International wholesale sales were $6.9 million in the first quarter versus $9.3 million, primarily reflecting lower sales in Japan. Gross profit in the quarter increased to $20.4 million from $18.8 million in the first quarter of 2006.

The company has reiterated its previously reported financial guidance of approximately $167 million in net sales, reflecting a 20% increase over 2006.