True Religion Apparel, Inc. (NASDAQ: TRLG) juust reported Q2 revenues in a gain of 78.9% year/year of $64.2 million and EPS of $0.39 on net income of $9.3 million. The estimates from First Call were $50.17M in revenues and $0.32 on EPS.
The company said this was another quarter of record breaking growthwith strong sales momentum across each business segment. The high-enddenim maker opened 12 new stores during the quarter to end with 30stores and it now has 34 stores as of today. It is now raising itstarget store count to 39 from 35 by year-end.
The company sees 2008 sales at $242 to $247M and $1.61 to $1.65 EPS, above prior estimates of $220 to $225M in revenue and above prior EPS targets of $1.52 to $1.56.
The economy may be soft, but those who buy $200 to $300 blue jeansdidn’t get the memo. This one closed up 4.5% ahead of earnings at$26.72 and its initial trades in after-hours are up around $28.00. Its52-week trading range is $13,89 to $28.90.
According to NASDAQ data,this has 9.666 million shares listed in the short interest (about 61%of the float). Betting against this fad has remained a hard trade to hold.
Jon C. Ogg
August 6, 2008
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