Home / Knowledge / News / Apparel/Garments / True Religion gross margin expands to 57.2% from 54.6%
True Religion gross margin expands to 57.2% from 54.6%
30
Apr '08
True Religion Apparel Inc announced financial results for the fourth quarter and year ended December 31, 2007.

Fourth Quarter Financial Results:
• Net sales were $52.7 million, an increase of 73.5% from $30.4 million in the 2006 fourth quarter. Net sales in the Company's U.S. wholesale segment increased 62.4% to $31.8 million from $19.6 million in the prior year. The Company's international wholesale business increased 21.3% to $9.2 million from $7.6 million in the 2006 fourth quarter.

• Net sales for the consumer direct segment, which includes the Company's branded retail stores and e-commerce site, increased 265.8% to $11.5 million from $3.1 million in the prior year. Fourth quarter net sales included $0.2 million of licensing revenue.

• Gross profit in the 2007 fourth quarter was $30.1 million, or 57.2% of net sales, compared to $16.6 million, or 54.6% of net sales, in the fourth quarter of 2006. The improvement in gross margin is primarily the result of the Company's higher margin consumer direct business generating a larger share of total net sales.

• Selling, general and administrative expenses for the 2007 fourth quarter increased 42.1% to $15.4 million from $10.8 million in the 2006 fourth quarter. Selling, general and administrative expenses for the fourth quarter of 2007 included $2.4 million of incremental operating costs for the expansion of the company's consumer direct business.

• Operating income for the 2007 fourth quarter increased 156.8% to $14.7 million, or 27.9% of net sales, compared to $5.7 million, or 18.9% of net sales, in the 2006 fourth quarter. The increase in operating margin is primarily due to higher sales and stronger margins generated in the Company's consumer direct business.

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search