True Religion Approves Buyback Up to $30M; Initiates $0.20 Dividend

True Religion Apparel, Inc. TRLG today announced financial results for the quarter ended March 31, 2012. First Quarter 2012 Financial Results * Total net sales increased 13.9% to $106.8 million. * Net sales for the Company's U.S. Consumer Direct segment, which includes the Company's retail stores and e-commerce business, increased 22.6% to $65.5 million and accounted for 61.3% of the Company's total net sales for the quarter. First quarter same-store sales for the 90 stores open at least 12 full months and e-commerce increased 13.3%. The Company opened one store and closed one store, ending the first quarter with 109 retail stores in the United States, compared to 96 as of March 31, 2011.