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True spring collection features new denim styling details
17 Jan '08
4 min read
Pete Collins, chief financial officer of True Religion, stated, "Embedded in this guidance is $3.5 million of pre-opening expense associated with the additional 20 branded retail store openings projected for 2008, which represents an incremental increase of approximately $1.6 million in pre-opening expenses over 2007.
Also, we expect to incur additional marketing expenses of approximately $1.7 million in order to make a substantial investment in a consumer marketing campaign aimed at expanding awareness of the True Religion brand and increasing consumer demand."
Addressing the Company's 2008 guidance, Jeffrey Lubell said, "We expect our accelerated sales growth momentum to continue in 2008 with the launch of innovative new products, the continued expansion of our branded retail stores, and by increasing our points of presence both domestically and abroad.
Our Spring 2008 collection features new denim styling details and an expanded sportswear assortment including additional shirts, hoodies and knit tops as well as our new licensed handbags and swimwear.
The initial wholesale bookingsof our Spring 2008 collection are up more than 40% from the same point last year, indicating that our product continues to be well received by wholesale buyers. Furthermore, we are expecting significant growth in our higher margin consumer direct business, which will add at least 20 stores in 2008; we finished 2007 with 15 stores. With at least 35 branded stores by year end 2008, the consumer direct business is expected to drive growth in revenue and profitability in fiscal 2008."
Mr. Lubell concluded, "We are confident in our ability to achieve our goals for 2008 and beyond as we further establish True Religion as a global lifestyle brand universally recognized for our premium denim and innovative collection of sportswear and licensed product."
The Company expects to report its final financial results for the fourth quarter and fiscal year ended December 31, 2007, in March, at which time the Company will hold its quarterly conference call to discuss its financial results and guidance.
Also, we expect to incur additional marketing expenses of approximately $1.7 million in order to make a substantial investment in a consumer marketing campaign aimed at expanding awareness of the True Religion brand and increasing consumer demand."
Addressing the Company's 2008 guidance, Jeffrey Lubell said, "We expect our accelerated sales growth momentum to continue in 2008 with the launch of innovative new products, the continued expansion of our branded retail stores, and by increasing our points of presence both domestically and abroad.
Our Spring 2008 collection features new denim styling details and an expanded sportswear assortment including additional shirts, hoodies and knit tops as well as our new licensed handbags and swimwear.
The initial wholesale bookingsof our Spring 2008 collection are up more than 40% from the same point last year, indicating that our product continues to be well received by wholesale buyers. Furthermore, we are expecting significant growth in our higher margin consumer direct business, which will add at least 20 stores in 2008; we finished 2007 with 15 stores. With at least 35 branded stores by year end 2008, the consumer direct business is expected to drive growth in revenue and profitability in fiscal 2008."
Mr. Lubell concluded, "We are confident in our ability to achieve our goals for 2008 and beyond as we further establish True Religion as a global lifestyle brand universally recognized for our premium denim and innovative collection of sportswear and licensed product."
The Company expects to report its final financial results for the fourth quarter and fiscal year ended December 31, 2007, in March, at which time the Company will hold its quarterly conference call to discuss its financial results and guidance.
True Religion Apparel Inc
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