True Religion Apparel has reported the best quarterly net sales in its history.
Q4 2009 net sales increased by 27.2 per cent year-over-year to $92.8 million. Net income also grew, up 15.2 per cent to $14.6 million from $12.7 million in Q4 2008.
For the full year, 2009 net sales increased 15.2 per cent year-over-year to $311.0 million, with net income rising 6.7 per cent to $47.3 million.
"The introduction of new jeans and related sportswear and licensed merchandise was both the foundation and the catalyst for another year of record sales and profitability for True Religion," said Jeffrey Lubell, CEO of True Religion Apparel.
"The growth of our US consumer direct platform, as well as the ongoing development of the True Religion brand in international markets provided incremental sales and earnings over the past year and should continue to offer our company future growth opportunities."