True Religion Q4 profit up; sees weak year ahead

True Religion Apparel Inc posted a bigger quarterly profit as its pricey but trendy jeans sold well during the holiday quarter, but forecast the full year below estimates.

True Religion
True Religion

The company, which sells its namesake jeans for as much as $300 in specialty boutiques and upscale department stores, earned $15.8 million, or 63 cents a share, compared with $14.6 million, or 59 cents a share, last year.

Sales rose 19.5 percent to $110.9 million.

Analysts, on average, had expected the company to earn 61 cents a share, on revenue of $103.4 million, according to Thomson Reuters I/B/E/S.

For the full year, it expects to earn $1.80 a share on sales of $405 million, while analysts were expecting earnings of $2.02 a share on sales of $406.8 million.

Shares of the company closed at $21.06 on Thursday on Nasdaq.

(Reporting by Nivedita Bhattacharjee; Editing by Maju Samuel)

© Thomson Reuters 2017 All rights reserved.

Fashion - Ready-to-wearIndustry