True Religion Apparel Inc.’s small improvement in third-quarter earnings was adequate to beat Wall Street’s estimates for the firm while the high end of its guidance for the fourth quarter matched analysts’ expectations.
While its largest business segment, U.S. consumer direct, saw sales move up 5.7 percent to $65.3 million, comparable sales in the category, the combination of same-store sales and e-commerce, declined 4.7 percent in the quarter. “While our same-store sales fell short of our expectations, we were able to exit the quarter with less slow-moving merchandise,” said Jeffrey Lubell, chairman, chief executive officer and chief merchant. “This puts us in a strong position heading into the holiday season.”
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)