True Religion sees Q4 sales above Wall Street view

Apparel company True Religion Apparel Inc (TRLG.O: Quote, Profile, Research) on Thursday projected fourth-quarter sales above analysts' expectations, driven by an expanded product assortment and growth in its consumer direct business.

The company said it expects sales of about $52.4 million for the quarter. Analysts on average were expecting revenue of $47.3 million, according to Reuters Estimates.

True Religion's consumer direct business' sales rose 280 percent to $11.4 million in the fourth quarter helped by increase in its store count from four to 15 in 2007.

True Religion, which made its mark selling jeans that cost hundreds of dollars, forecast fiscal 2008 earnings of $1.48 and $1.52 a share, on sales of about $210 million to $215 million.

The outlook includes $3.5 million of pre-opening expense related to 20 retail store openings projected for 2008, the company said in a statement.

Analysts were expecting earnings of $1.56 a share, before items, on revenue of $208.4 million for the year.

The company's stock closed at $17.56 Wednesday on the Nasdaq. (Reporting by Dilipp S. Nag in Bangalore; Editing by Amitha Rajan)
Source : http://www.reuters.com