True Religion Down 25% After Company Misses Earnings Estimates
Shares of True Religion (NASDAQ: TRLG) are down nearly 25% after the company missed earnings estimates yesterday.
Total net sales increased 7.7% to $119.4 million.
Net sales for the Company's U.S. Consumer Direct segment, which includes the Company's branded stores and e-commerce business, increased 23.7% to $77.3 million and accounted for 64.8% of the Company's total net sales for the quarter. Fourth quarter same-store sales for the 92 stores open at least 12 full months and e-commerce increased 11.1%. The Company operated a total of 109 branded stores in the United States as of December 31, 2011, compared to 94 as of December 31, 2010.
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