Shares of True Religion Apparel Inc. spiked more than 25 percent Wednesday after the company reported sales from a ballooning portfolio of branded stores and expansion in international markets helped it overcome double-digit declines in its U.S. wholesale business during the first quarter.
For the three months ended March 31, the premium denim label saw earnings improve 9.8 percent to $7.6 million, or 32 cents a diluted share, besting Wall Street’s consensus estimate of 28 cents. Comparatively, the company reported earnings of $6.9 million, or 29 cents, in the same period a year ago. Sales jumped 19.1 percent to $63.6 million from $53.4 million.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"